Carborundum Universal announces the completion of the voluntary deregistration and liquidation of its step-down wholly-owned foreign subsidiary, CUMI Europe s.r.o., based in the Czech Republic. The subsidiary, originally established for marketing purposes in Prague, has been officially removed from the Commercial Register, effective December 31, 2025. The liquidation will have no material impact on the overall financials of the company.
Foreign Subsidiary Closure
Carborundum Universal Limited (CUMI) has finalized the liquidation of its step-down wholly-owned subsidiary, CUMI Europe s.r.o., located in the Czech Republic. The deregistration process has been completed in accordance with Czech Republic laws, and the subsidiary’s name has been officially removed from the Commercial Register as of December 31, 2025.
Background of CUMI Europe s.r.o.
CUMI Europe s.r.o. was initially established with the purpose of facilitating marketing activities in Prague. However, the subsidiary ceased operations in 2018. The decision to voluntarily deregister and liquidate the entity aligns with the company’s strategy to streamline its international operations and optimize resource allocation.
Financial Impact
The company confirms that the liquidation of CUMI Europe s.r.o. is not expected to have any significant effect on the consolidated financial performance or position of Carborundum Universal Limited. The subsidiary’s contribution to the consolidated turnover and net worth was immaterial.
Additional Details
The liquidation process does not involve any related party transactions and was conducted at arm’s length. Furthermore, the transaction does not fall under a scheme of arrangement requiring compliance with specific regulations.
Source: BSE
