Nirma Group's Nuvoco Vistas Acquires Emami Cement

By siliconindia  |  Thursday, 06 February 2020, 06:29:41 PM IST

Nirma Group's Nuvoco Vistas Acquires Emami Cement

One of India’s leading building materials companies, Nuvoco Vistas Corporation has announced the 100 per cent shareholding acquisition of Emami Cement, with a shared purchase agreement for an enterprise value of INR 5500 crores. The transaction is subject to approval by the Competition Commission of India (CCI).

Commenting on this, Hiren Patel, Chairman, Nuvoco, says, “This acquisition is a momentous and transformational step in Nuvoco’s journey to becoming a major building materials company in India delivering superior performance. Emami Cement will enable us to take our Cement business to the next level and continue to serve our customers with innovative and high-quality products that they trust”.

Emami Cement operates one integrated cement plant in Risdah, Chhattisgarh and the grinding units in Bihar, West Bengal and Odisha with an overall capacity of 8.3 million tonnes per annum. Also, the mining leases happen in Chattisgarh, Rajasthan and Andhra Pradesh.

Founded in 1999, with this partnership, Nuvoco will be one of the leading cement players in India, specifically in the East. The company will also have a substantial presence in the slag cement in the East while reinforce a strong portfolio of PPC and OPC products. The cement sales will spread across 12 states, Chhattisgarh, Odisha, West Bengal, Bihar, Jharkhand, Rajasthan, Madhya Pradesh, Gujarat, NCR region, Punjab, Uttar Pradesh and Haryana.

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