Birla Corporation on Monday said that it will acquire two cement units of Lafarge India having a capacity of 5.15 million tonnes per annum for Rs 5,000 Cr.
In a BSE filing Birla Corporation said, â€œWe have agreed to a transaction with Lafarge India Private Ltd. We will acquire both Sonadih cement plant in Chhattisgarh, a cement grinding unit at Jojobera, Jharkhand, and also Concreto and PSC brands of Lafarge India for Rs 5,000 Cr.â€
Harsh Lodha, Chairman of Birla Corporation Limited said, â€œThis is one of the important transactions in the history of the Birla Corporation. Business with Concreto and PSC brands fits perfectly in our strategic vision and ambition of strengthening our competitiveness in our chosen markets.â€
Birla Corporation Limited, is an Indian-based flagship company of the M P Birla group of companies, established in late 1910s and
Birla Corporation has units in Rajasthan, Madhya Pradesh, Uttar Pradesh and West Bengal, with a current capacity of 10 million tonnes per annum. And after this deal it will go on to 15 million tonnes.
Lafarge is a French industrial company. It is a world leader in building materials, specializing in three major products cement, construction aggregates, and concrete. It entered India in 1999 by acquiring the cement business of Tata Steel.
Lafarge has units in Rajasthan, Haryana and West Bengal with the total cement production capacity currently around 11 million tonnes in the Indian market.