Chettinad Cement Corporation, based in Chennai, India, is set to acquire Anjani Portland Cement as part of the company’s strategy to increase its presence in the Andhra Pradesh market. According to local reports, the details of the acquisition have been agreed and it is anticipated that the purchase will be formalised soon.
Anjani Portland has a strong presence in Andhra Pradesh and has extended its reach to the markets in Tamil Nadu, Orissa, Karnataka, Maharashtra, Kerala and Goa. It operates two plants in the Nalgonda district, with a production capacity of 1.2 million tpa, and plans are also in place for the construction of a greenfield unit in Karnataka. The company posted a turnover of Rs.332 crore in 2013.
Chettinad Cement owns integrated cement facilities in Tamil Nadu at Puliyur, Karikkali and Ariyalur, which have a combined production capacity of approximately 11.5 million tpa, and operates a plant in Kallur, Karnataka. The company is planning to add around 15 million t to its total capacity by 2015.
Edited from various sources by Rosalie Starling
Read the article online at: https://www.worldcement.com/asia-pacific-rim/10032014/chettinad_cement_to_acquire_anjani_portland_869/