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Carborundum Universal to acquire controlling stake in PLUSS Advanced Technologies

Capital Market 

Carborundum Universal (CUMI) has entered into definitive agreements for acquiring a controlling stake in PLUSS Advanced Technologies (PLUSS), a specialty materials research and manufacturing company, at an initial investment of Rs 115 crore.

PLUSS is involved in the fields of Phase Change Materials (PCM) for thermal energy storage and speciality polymeric additives for polymer recycling and enhancing mechanical properties.

PCMs are substances which absorb or release energy during phase transition, from solid to liquid and vice versa. PLUSS plays a key role in the Cold Chain logistics of Sputnik V COVID Vaccines.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, August 26 2021. 14:15 IST