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Ambuja acquires My Home’s cement unit for `413.75 cr
Ahmedabad: In a bid to enhance coastal footprint across southern markets, the Adani Group’s building material company Ambuja Cements on Monday...
Ahmedabad: In a bid to enhance coastal footprint across southern markets, the Adani Group’s building material company Ambuja Cements on Monday announced to acquire My Home Group’s 1.5 MTPA (million tonnes per annum) cement grinding unit in Tuticorin, Tamil Nadu, for Rs413.75 crore.Ambuja Cements has signed a definitive agreement to acquire the cement grinding unit of the My Home Group.
The acquisition, funded through internal accruals, takes Adani Group’s total cement capacity to 78.9 MTPA, the company said in a statement.The buyout deal will aid in enhancing the coastal footprint across southern markets of Tamil Nadu and Kerala. The plant is spread across 61 acres of land with a long-term fly ash supply agreement for raw material sourcing. “We are glad to announce this acquisition, strengthening our foothold in the region and aligning perfectly with our commitment to delivering high-quality products and services to our customers,” said Ajay Kapur, CEO (cement business), Adani Group.
