Holcim Group’s ACC and Ambuja have reportedly pulled out of the cement industry.
Holcim is a leading manufacturer of cement internationally. The group has two companies in India, Ambuja Cements and ACC. The group has decided to exit internationally unimportant markets. So it is rumored that Holcim Group plans to sell the two companies.
Both JSW and Adani have recently ventured into the cement industry. It has been reported that the two companies are in talks with these companies as they have big plans.
The Holcim Group is based in Switzerland. The company merged in 2015 with Large, a French company to form a large group. Has been operating as a large company internationally. But it plans to exit the unimportant market as it restructures for further growth. The group is based in Brazil and Zimbabwe.
Ultratech, part of the Aditya Birla Group, is India’s largest cement producer (11.7 crore tonnes). This is followed by ACC and Ambuja in second place. The two companies together produce 6.6 crore tonnes. India’s total annual production is 54 crore tonnes. Cement production The market cap of the two companies stood at Rs 1.14 lakh crore at the close of trading on Wednesday.
But all of this is on the scale of initial negotiations. Due to this speculation, the share of Ambuja Cement has risen by 20 per cent in the last one month. But no company has issued a formal announcement on this.