India Cements to merge with subsidiary

India Cements to merge with subsidiary
27 May 2014

India Cements is planning to merge with its subsidiary Trinetra Cement to consolidate its operations.

N Srinivasan, vice chairman and managing director of India Cements, said the merger will bring the operations under one company. "We will get the benefit of profitability of Trinetra and improve the performance of India Cements," he said. Post-merger the total capacity of India Cements would go up to 15.8Mt.

India Cement currently has a capacity of 15.5Mta from seven integrated plants in Tamil Nadu and Andhra Pradesh, one in Rajasthan (through its subsidiary Trinetra Cement) and two grinding units, one each in Tamil Nadu and Maharashtra.

As part of its restructuring plan, the company is also looking to sell non-core assets, especially surplus land near their facilities in Tamil Nadu and Andhra Pradesh.

Published under Cement News