Ambuja Cements has acquired a 60% equity stake in processed flyash manufacturer Dirk India for a sum of Rs 16.51 crore, according to local reports.
Under the deal, which was announced to the Bombay Stock Exchange (BSE), both Dirk India and its subsidiary company, Dirk Pozzocrete, have turned into arms of Ambuja Cements.
It is thought that Dirk India has a production capacity of 2500 tpd of flyash. During the financial year 2010-11, the company generated sales revenue of Rs 55.40 crore and earned EBITDA of Rs 6.8 crore.
Ambuja Cement has purchased the equity stake from Dirk India’s promoters.
Read the article online at: https://www.worldcement.com/asia-pacific-rim/15092011/ambuja_cements_acquires_60_percent_stake_in_dirk_india/