The $15 bn Cemex SAB de CV, the world’s third-largest cement company, is in talks with Ahmedabad-based Deepak Cements and Chemicals for a possible acquisition of the latter’s operations in Kutch. Cemex is a Mexico-based company. It had earlier attempted to acquire B K Birla group-owned Mangalam Cement some years ago but had failed. Cemex’s holding company in Asia, Cemex Asia Holding may be the vehicle for the acquisition.
Deepak Cements already has a small plant in Kutch and proposes to set up another 3 mtpa unit costing Rs. 1300 crores in the same region with an initial capacity of 2000 tonnes per day. Cemex may buy the existing plant and could also enter into a joint venture for the new project.
The cement sector in India is seeing lot of action in the recent past. France’s Lafarge, Swiss giant Holcim, Germany’s Heidelberg and Italy’s Italcementi Group have all entered the Indian cement market through acquisitions. French cement maker Vicat is also on the hunt for acquisitions in India.
Read the article in Daily News and Analysis.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment