India's ACC buys stake in grinding unit
MUMBAI |
MUMBAI Jan 29 (Reuters) - Indian cement maker ACC (ACC.BO) said on Friday it had acquired the entire stake in Encore Cement & Additives Pvt Ltd, which owns a 200,000 tonne slag grinding unit in south India.
The acquisition will help strengthen ACC's presence in coastal Andhra Pradesh, it said in a statement.
Financial details were not immediately available.
ACC is 46-percent owned by Swiss cement major Holcim (HOLN.VX). (Reporting by Prashant Mehra)
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