Ambuja Cements Buys 60% In Dirk India For INR165.1 Million
September 14 2011 - 7:53AM
Dow Jones News
Ambuja Cements Ltd. (500425.BY) Wednesday said it has acquired a
60% stake in Dirk India from its founders for INR165. 1
million.
Dirk India, based in the western Indian state of Maharashtra,
manufactures fly ash. It has a capacity of 2,500 tons per day, the
cement producer said in a filing to the Bombay Stock Exchange.
Dirk India reported revenue of INR554 million and earnings
before interest, taxes, depreciation and amortization of INR68
million for the year ended March 31, 2011.
Following the acquisition Dirk India Pvt. Ltd. and its unit Dirk
Pozzocrete (MP) Pvt. Ltd. will become subsidiaries of the company,
the filing said.
Switzerland's Holcim Ltd. (HOLN.VX) owns a majority stake in
Ambuja Cements.
-By Gurdev Singh Virk, Dow Jones Newswires; 91 22 6145 6119;
Gurdev.Singh@dowjones.com