16 Mar 2013

ACC acquired Encore Cements

The Hindu reported that Encore Cement and Additives Pvt Ltd a wholly owned subsidiary of ACC Ltd has been amalgamated with the company. The company has a slag grinding unit in Vishakapatnam in Andhra Pradesh. Consequently this unit now renamed Vizag Cement Works would be the 18th cement plant in the ACC network.

In January 2010 ACC had acquired a 100% stake in the equity of Encore Cements and Additives Pvt Ltd which then became a wholly owned subsidiary of ACC. The acquisition helped ACC build its presence in Andhra Pradesh and in the coastal part of neighbouring Orissa.

The amalgamation of Encore Cements and Additives into ACC Ltd would enable that latter to utilise the resources of its former subsidiary to augment its cement business and to bring down the cost of overheads and other common expenses.

See Live Chart of ACC Ltd. See EOD Analysis of ACC Ltd.

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