January 8, 2024
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ACC acquires Asian Concretes and Cements in Rs 426-crore deal
Adani-owned ACC Limited on Monday announced that it would be acquiring Asian Concretes and Cements Private Limited in a 55% stake deal, valued at Rs 425.96 crores.
“Pursuant to Regulation 30 of the Listing Regulations read with Part A of Schedule Ill of the Listing Regulations, we hereby inform you that ACC Limited at its Board Meeting concluded on 08 th January 2024 has agreed to acquire Asian Concretes and Cements Private Limited,” the cement company said in an exchange filing.
The Adani Group company already had a 45% equity stake in Asian Concretes and Cements, with Monday’s deal giving the cement conglomerate 100% control.
About Asian Concretes and Cements Pvt. Ltd.
Asian Concretes and Cements Pvt. Ltd. set up its first cement grinding unit in 2004 at Nalagarh, Himachal Pradesh. In 2009, ACL became an associate company of ACC Limited, India’s foremost manufacturer of cement and ready-mixed concrete and leader in building materials industry.
ACL commissioned its second plant of 1 MTPA in 2009 and now has an aggregate capacity of 1.4 MTPA. The founders of ACL have a rich experience of over 25 years in the cement industry.
Its products are High Performance Cement. High Reactive Silica Based Cement (HRS)
This special blended cement is produced by inter-grinding higher strength PPC clinker with high quality processed fly ash. The R&D division of ACL sets the regulations on its production. This USP of this value-added product is its hydraulic binding properties that are not found in ordinary cements.
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