Dalmia Cement buys Adhunik Cement for Rs560 crore

28 Sep 2012

1

Dalmia Cement Bharat Ltd today said it has acquired Meghalaya-based Adhunik Cement for Rs560 crore.

"As part of its growth plans, Dalmia Cement Bharat Ltd has acquired 100 per cent stake in Meghalaya-based Adhunik Cement'', the company said in a release.

''Adhunik Cement has a robust presence in markets of the North East with a near 10 per cent market share and a capacity of 1.5 million tonnes per annum (MTPA)," the company said, adding, "ownership of this business comes at a phased investment of Rs560 crore and follows the non-organic, acquisition-based growth strategy of Dalmia Cement Bharat Ltd."

In January this year, Dalmia Cement acquired 50 per cent stake in Calcom Cement, Assam, for about Rs238 crore.

Adhunik Cement is a joint venture between Adhunik Group and MSP Group, both based in Kolkata, and sells cement under 'Adhunik MSP' brand.

Adhunik Cement has a 1.5 MTPA manufacturing facility in the Jaintia Hills, Meghalaya and a 25 MW captive power plant.  Dalmia Cement Bharat Ltd is a leading domestic cement manufacturer and is a subsidiary of Dalmia Bharat Enterprises Ltd.

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