CUMI lines up Rs 90 cr spread

Carborundum Universal Ltd (CUMI), part of the Rs 5,266 crore Murugappa group, today said it would invest up to Rs 30 crore annually for the next three years to increase its domestic manufacturing capacity.

The company would also look at manufacturing and acquisition opportunities in China and Europe.

"We are looking at China both for sourcing of raw materials and as a mass production base," said MM Murugappan, chairman, CUMI. CUMI is the country's largest abrasives and material sciences firm.