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Business EconomyPosted at: Sep 16 2024 10:56PM


CUMI acquires100 pc stake in US-based carbide in NY

Chennai, Sep 16 (UNI) Carborundum Universal Limited (CUMI) has entered into a binding
Share Purchase Agreement to acquire a 100% stake from existing equity shareholders of
Silicon Carbide Products, Inc. USA (SCP) on Monday.
The Enterprise Value is USD 6.66 million (Rs 56 Cr indicative).
CUMI will incorporate a wholly owned subsidiary in
USA, which will act as the Special purpose vehicle (SPV) for this acquisition. The
transaction is expected to be completed by the end of October 2024.
SCP, located in Horseheads, NY, USA, specializes in producing high-quality Nitride Bonded
Silicon Carbide (NBSiC) products. NBSiC ceramics have superior wear and thermal shock
resistance. SCP has over three decades of experience in providing customized solutions to
customers in the USA and globally.
Their product range serves industries such as power generation, mining, material handling/processing, non-ferrous molten metal transfer, and petrochemical refineries.
Recognized for their technically superior firing and forming processes, SCP is a
trusted supplier to leading industry players in these sectors,a CUMI release said tonight.
Talking about the acquisition, Mr. Sridharan Rangarajan, Managing Director of CUMI said,
“Acquisition of SCP aligns with CUMI’s strategic expansion plans. SCP concluded 2023 with
sales of USD 4.2 million with a healthy profit and return profile.
CUMI would leverage SCP’s superior nitriding furnace design, patterning and tooling capabilities to address the Indian market for critical thermal applications majorly in power, steel and mining sectors. CUMI would tap into SCP’s extensive customer network in Americas to market its products to
industries such as glass, super alloys, petrochemicals, non-ferrous and heat treatment.
Additional synergies are expected out of opportunities to supply CUMI’s grade of raw
materials to SCP and in joint development of products and technologies.
"We believe that the expertise and solutions offered by CUMI and SCP complement each
other well and the acquisition will aid CUMI in its global market expansion. We are delighted
to be working with the SCP team to fulfill our global plans”, he said.
Joshua Dahlman, President of SCP, and Rick Cleveland, Vice President of SCP, shared,
“Joining CUMI strengthens SCP to grow its business with an expanded product portfolio and
additional market access. Combining the strengths of CUMI and SCP will help develop newer
products and bring synergies in market reach. We are thrilled to become part of CUMI.”
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