Saurashtra Cement (SCL) has received approval from Board of Directors to take over the paint business of Snowcem Paints on slump sale basis and as a going concern. The total consideration for the transaction is around Rs 55 crore.
Saurashtra Cement (SCL) is the flagship company of the Mehta Group, formed in 1956. SCL is one of the leading players in the Indian cement industry, manufacturing Ordinary Portland Cement (OPC) and Pozzolana Portland Cement (PPC).