Chennai-based cement major Chettinad Cement Corporation is planning to acquire Anjani Portland Cement. It will give the Chennai-based company a significant presence in the Andhra Pradesh market .The finer details of the buy are completed and the deal is expected to be formalized soon.
With a turnover of Rs 332 crore last year, Anjani Cements has over 1.2 million tonnes (MT) production capacity in its two plants in Nalgonda district of Andhra Pradesh. It also has plans for setting up a greenfield unit in Karnataka. The company, which posted Rs 3 crore loss in the last quarter, has a strong dealer and marketing network in the State. Chettinad Cement Corporation has integrated plants in Tamil Nadu at Puliyur, Karikkali and Ariyalur and also operationalised another plant in Kallur, Karnataka.
The company, which has an annual cement capacity of over 11.5 MT in Tamil Nadu alone, has plans to add about 15 MT by 2015.
Chettinad Cement Corporation is engaged in production of cement, fused silca, silica and purity quartz grits.
