ACC looking for acquisition
"We are exploring organic and inorganic growth and are usually looking out for acquisitions. If any company fits into the criteria we are looking for, we are open to acquire it," said Kuldip Kaura, Managing Director and CEO, during the 75th annual general meeting of ACC. In April 2010, the firm acquired 45 per cent equity stake in Himachal Pradesh-based 1.3 million tonne per annum grinding unit - Asian Concrete and Cements.
The company at present has six subsidiaries and is in the process of merging three of its subsidiaries. "The company is focusing on merging Lucky Minmat, National Limestone and Encore Cement & Additives," said Kaura.
"However, it will not merge its 100 per cent subsidiary ACC Mineral Resources as the company provides coal resources and will be kept as a separate company," said Kaura. ACC also has two other subsidiaries, ACC Concrete and Bulk Cement Corporation (India). "We will increase our market share to 11 per cent from present 10.2 per cent due to expansion of our cement capacity," said Kaura. The firm recently increased its cement manufacturing capacity to 30 million tonne per annum from 22 million tonne per annum. "We have added capacity in two of our plants at Wadi and Chanda," said Kaura. He also disclosed that in the January-March 2011 quarter the company's dispatches have increased to 6.2 million tonne, up 10 per cent from a year ago.