Prism Cement, Ardex GmbH to invest Rs 40 cr
German-based Ardex GmbH, a high performance speciality building material provider, has formed a joint venture with Prism Cement to set up two plants in India with an investment of Rs 40 crore. The joint venture company Ardex Endura will set up plants in Bangalore and Durgapur, West Bengal, this year to meet the growing demand in the South, especially in Tamil Nadu and North-East. Vijay Aggarwal, Non-Executive Chairman, Ardex Endura and Managing Director, Prism Cement, said the new plants will strengthen the company's position in (tile-fixing) adhesive, flooring products, water proofing concrete repair and allied products' market. Having two units in Bangalore and Baroda with capacity of 45,000 mtpa, which will rise to 150,000 tonne after new production centres go onstream.