The increase in spending on real estate and infrastructure has led to an ever increasing demand for cement. Currently, India is the second largest consumer of cement in the world. In light of this, JSW Cement is working hard to double its output to 20 mt by 2020, as reported.
To restructure its India operations, Holcim is to merge its holding firm Holcim India with its unit Ambuja Cements. The Swiss building materials major on November 13 got the approval from Foreign Investment Promotion Board (FIPB) for the merger.
Holcim, the Swiss cement giant, will create a new corporate structure to integrate key functions of Ambuja Cements and its subsidiary ACC close on the heels of restructuring the ownership composition of its two Indian arms. The new management panel, which will initially drive joint efforts to derive synergies in the areas of supply chain management and shared services such as HR and finance, will come into force from next month.
ACC and Ambuja Cement have received their investors’ nod for paying a 'technology and know-how' fee of one per cent of the net sales to Holcim Technology for two years, starting 2013. The postal voting, conducted as an ordinary resolution by ACC, was passed with 75.65 per cent of members voting in favour, and 24.30 per cent voting against it. There were 0.05 per cent invalid votes.
Cement manufacturing company ACC has chalked out an action plan including product innovation to strengthen its ready mix concrete business. The 77-year-old company has lined up a series of ready-mix concrete (RMC) products to push sales. Right from an Italian marble lookalike Imprintcrete to Permecrete, Holcim-owned ACC is betting on the affluent and demanding lifestyle of GenNext to push its environment-friendly products. If used in open spaces like car park or garden pathway, Permecrete can al
India is among the robust of cement markets in Asia, said Holcim, the Switzerland-based cement major. It has said so at a time when the country's cement sector faces rising costs and poorer-than expected demand, despite this being the peak construction period.
To pay one per cent of its net annual sales as technology and know-how fee to its Swiss parent Holcim, Ambuja Cements has sought the approval of shareholders, the company said in a statement on January 14.