Sagar Cements plans BMM Cements acquisition
Published by Katherine Guenioui,
Editor
World Cement,
The board of Sagar Cements Limited has approved the acquisition of a 100% stake in BMM Cements Limited. The acquisition of the company, which has a 1 million tpa cement plant in Andhra Pradesh, brings Sagar Cements’ total capacity to more than 3 million t of cement. As well as the cement plant, BMM has limestone reserves of 155 million t and a 25 MW captive power plant.
“The proposed acquisition of BMM Cements comes at an opportune time wherein the demand environment and pricing in our region of operations looks encouraging. The two companies are wholly complementary geographically with considerable potential for synergies,” the company said in a statement.
Sagar Cements has a plant in Matampally, Telangana and recently exited a joint venture with French cement company Vicat. BMM reportedly has an enterprise value of Rs.540 crore.
Edited from various sources by Katherine Guenioui
Sources:
Read the article online at: https://www.worldcement.com/africa-middle-east/26092014/sagar-cements-plans-bmm-cements-acquisition-558/
You might also like
Climate-neutral circular economy: Schenck Process becomes Qlar
Guided by its aspiration 'the future is cirQlar', Schenck Process will rebrand to Qlar on 13 May 2024.