Lafarge India considers M&As to boost market share
Lafarge India today said it would consider mergers and acquisitions (M&As) among other options to boost its share in the market.
"Lafarge India is committed to growing in the domestic market in India and we will look at value added organic and inorganic opportunities that offer us a strategic fit," a company spokesperson told local press.
The company is now understood to have initiated talks with Meghalaya-based "Star Cement" for buying a majority stake and also with Chennai-headquartered Madras Cements’ for its grinding unit in West Bengal.
The Lafarge spokesperson, however, declined to comment, stating: " We do not comment on market speculation".
An analyst tracking the cement sector said that Lafarge is in fact carrying out due diligence to acquire a majority stake in Star Cement, a brand promoted by Cement Manufacturing Company (CMCL).
Century Plywoods holds over 70% stake in CMCL, a leading cement player with 1.2Mt capacity in Meghalaya, the state where Lafarge recently gets the Supreme Court nod for carrying out limestone mining.
Published under Cement News
