Rain Commodities hives off cement business
India-based Rain Commodities which produces cement, calcined petcoke and power, on Wednesday said it will hive off its cement operations to another subsidiary.
The company’s board has approved "hiving off the cement operations to a wholly-owned subsidiary to enable possible induction of join venture partners in the future and to pursue value-accretive acquisitions," Rain Commodities said in a filing to the Bombay Stock Exchange.
Published under Cement News
