Heidelberg Cement India has executed a Business Transfer Agreement with JSW Steel for sale of its cement grinding facility located at Raigad in Maharashtra, to JSW Steel, as a going concern on slump sale basis. The company has executed an agreement on October 05, 2013 in accordance with the approval granted by the board of directors of the company on May 21, 2013. The transaction will be consummated only after obtaining all relevant approvals required under applicable laws.
Heidelberg Cement India is one of the leading producers of building materials worldwide. The company manufactures portland slag cement and portland pozzolana cement. The company has manufacturing facilities located at Ammasandra (Karnataka), Damoh (MP) and Jhansi (UP) and has total production capacity of 5.9 million tonnes per annum.
