Carborundum Universal, an abrasives and ceramics manufacturer, said on Friday that it has divested it entire shareholding in Laserwords Private. In a notice to the exchanges it said that it has divested its stake for Rs 50 crore.
“The transaction is in line with Carborundum’s overall strategy to divest its non-core assets to fund its core businesses,” it said in the release.
Carborundum Universal is tripartite collaboration between the Murugappa Group, The Carborundum Co., USA and the Universal Grinding Wheel Co. Ltd., UK.