ACC sees marginal YoY rise in sales, India
Indian producer ACC Ltd expects a marginal year-on-year rise in its cement sales in August because of an improvement in transportation facilities, Managing Director Sumit Banerjee said Wednesday.
"Traditionally, August is a lean month for the cement industry, but compared to August of last year, sales will be marginally better this year," Banerjee told reporters at a news conference.
Demand in July will be low due to rains, he said.
Cement demand falls during the June-September monsoon season as construction activity slows due to heavy rains.
ACC, one of India’s largest cement manufacturers and a unit of Holcim, has been facing a decline in sales volume since February. This was partly due to a shortage in railway wagons to transport the building material, Banerjee said.
Banerjee declined to comment on a report in the Economic Times newspaper that he will join Reliance Anil Dhirubhai Ambani Group to head its cement business.
Earlier, the Economic Times reported that Mr Banerjee is set to spearhead the Anil Ambani group’s proposed foray into cement business. Widely credited with ACC’s growth in the past three years, the newspaper reported taht Mr Banerjee, 54, will fill in the vacancy that was created due to the resignation of Anil Singhvi from the Ambani Group early this month.
Published under Cement News
