Binani Cement in talks to acquire Turkish company

Binani Cement in talks to acquire Turkish company
Published: 28 October 2009

Binani Cement is in talks to acquire a cement firm in Turkey as part of its strategy to more than double its production capacity by two years, reports the Economic Times of India

A source privy to the development said the deal is likely to be sealed by March next year. He, however, declined to disclose the identity of the overseas firm.

The source, who requested anonymity, said the Binani board last week approved the foreign acquisition which would be financed equally by internal accruals and debt.