Cement Conqueror
01 Mar 2020
Hiren Patel, Chairman, Nuvoco, is making headlines! Nuvoco Vistas Corporation has acquired Emami Cement for an enterprise value of
Rs.55 billion. What’s more, the Nirma Group company will also add 8.3 million tonne installed capacity across India – in Bihar, Chhattisgarh, Odisha and West Bengal. With this acquisition, the Patel-led company will become one of the leading cement players in India, especially in the East.
As reported, this will bring the firm's total cement capacity in Eastern, Northern and Western India to 23.5 million tonne (including the Jojobera plant ongoing capacity expansion) and over 60 ready-mix plants.
For Patel, “This acquisition is a momentous and transformational step in Nuvoco’s journey to becoming a major building materials company in
India delivering superior performance.” Indeed!
Related Stories
