Carborundum buys 51% in S Africa's Foskor Zirconia

New Delhi, Jul 3 (UNI) Abrasives maker Carborundum Universal Ltd today said it has acquired 51 per cent stake in South Africa's Foskor Zirconia Proprietary Ltd for an undisclosed sum.

Foskor Zirconia is the third-largest producer of the mineral in the world, with installed capacity of 4,200 tonnes a year, it said in a statement.

The company had sales of 16 million dollars in 2007/08, it added.

Zirconia is used as a refractory material for abrasives.

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