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Our Bureau

Mumbai, July 12

As part of its plans to quit non-core business, ACC Ltd sold its wholly owned subsidiary ACC Nihon Castings Ltd to VN Enterprises Ltd of Hindustan Udyog Group for Rs 30 crore.

“Pursuant to the decision earlier taken by the company’s board to divest from non-core activities, the company (ACC Ltd) has sold its entire shareholding in ACC Nihon Castings Ltd to V N Enterprises Ltd. The transaction has no significant impact on the results of the company,” ACC said in a communiqué to the BSE.

In 2005, ACC sold its refractory business to ICICI Venture Funds for Rs 257 crore. It also amalgamated Bargarh Cement Ltd and Domadhar Cement and Slag.

More Stories on : Restructuring | Cement | Associated Cement Companies Ltd

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