ACC acquires Encore Cement and Additives

Cement major ACC today said it has acquired Vizag-based Encore Cement and Additives (ECA) for an undisclosed sum.

"The acquisition will help the company (ACC) further strengthen its presence in coastal Andhra Pradesh," ACC said in a communique to the Bombay Stock Exchange.

Promoted by a few technical and management professionals, ECA has a slag grinding capacity unit of two lakh tonne per annum at Viskhapatnam.

Slag is used to make Portland cement and ACC has two such cement plants in Orissa and Chattisgarh.

Following the acquisition, ECA has now become a wholly-owned subsidiary of ACC, the statement said.

ECA has a long-term agreement with Vizag Steel Plant, which ensures steady supply to the firm.

ACC has 16 plants across India manufacturing 26 million tonnes of cement per annum.