JK Cement’s wholly owned subsidiary -- JK Maxx Paints (JKMPL) has at second tranche invested Rs 60.24 crore towards the acquisition of 20% equity shares of Acro Paints (APL). Consequent upon the present acquisition, JKMPL has acquired total 80% equity share capital of APL with immediate effect.
The acquisition facilitated commercial presence of the Company in the Paint & construction chemicals business segment.
JK Cement is one of the largest cement manufacturers in north India. It is also second largest producer of white cement in India. The company exports white cement to countries like South Africa, Nigeria, Singapore, Bahrain, Bangladesh, Sri Lanka, Tanzania, UAE and Nepal.
