In 2016 your Company completed eight decades of its tryst with the Nation a vintageenjoyed by a mere handful of names in our corporate annals.
2016 was also a testing year with an economy that failed to energize the constructionsector and confronted the cement market with subdued sales. But amid these challengesthere were positive developments in both cementand ready mixed concrete segments by way ofgreater cost efficiency strengthened product development and energetic customerexcellence initiatives.
The Jamul integrated project was successfully completed during the year showcasing thecountry's most modern plant with state-of-the-art features that enable it to meet globalstandards.
Last year your Company strengthened its association with Ambuja Cements Limited and theworldwide LafargeHolcim group in a manner that enables it to derive greater synergies.
Mr Neeraj Akhoury takes overas Managing Director & CEO with effect from February 42017 in place of Mr Harish Badami who tendered his resignation as Chief Executive Officer& Managing Director.
Made up of eminent personalities of professional prowess and indubitable integrity theBoard guides the company in retaining its reputation of being professionally managed withits core values firmly rooted in demonstrating sound ethics and good corporate citizenshipto deliver maximum value to its stakeholders.
The Union Budget proposals announced this February have brightened prospects for thenational economy with plans that are expected to advance macroeconomic growth boostinvestor confidence and provide impetus to the rural economy. The cement industry and weare particularly enthused by measures devised to accelerate investment in infrastructuredevelopment and housing sector.
In this unfolding scenario I am confident that your Company's continued focus on costcompetitiveness and the thrust on enhancing customer excellence will help it present animproved performance.
ACC has a strong and dedicated team of employees responsive to every problem; asalways I am confident they will also rise to meet any challenge with purposeful grit anddetermination.