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Unifrax Corporation announced today that it has closed its previously announced acquisition of the worldwide ceramic fiber business of Carborundum Insulation Technologies (CIT), from Compagnie de Saint-Gobain (Saint-Gobain). As previously announced in a July 31, 2000 press release, the deal reunites Unifrax, the former North American Fibers Division of The Carborundum Company, with its former international sister ceramic fiber operations which were acquired by Saint-Gobain as part of its purchase of The Carborundum Company from British Petroleum (BP) in 1996. The CIT purchase also included the former French ceramic fiber operations of Saint-Gobain (previously operated as Kerlane) making Unifrax/CIT the largest supplier in the French Market, as well as a majority position in Orient Cerlane Ltd., a key producer located in India. William P. Kelly, President and CEO of Unifrax, said that the combined company will be called Unifrax Corporation and will maintain its headquarters in Niagara Falls, New York. Kelly indicated that on a combined basis, the company had 1999 sales of $165 million. It now has manufacturing operations in the United States, France, England, Germany, Brazil, Venezuela and India and sales and distribution resources around the world.
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