India’s largest cement maker ACC has announced that the conglomerate has acquired 40% equity stake in Goa-based Alcon Cement Company for Rs 222.5 million.
Alcon has a clinker grinding and cement packing plant in Goa with a production capacity of 500 tonnes a day. It entered into a joint venture with ACC for technical and marketing support.
According to the sources, the equity stake was acquired in the previous quarter.
Last year, in a similar way, ACC, part of Swiss major Holcim, had bought about 14% equity stake in Rourkela-based Shiva Cement (SCL).
Source: Top News