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Mumbai, March 16 In line with its strategy to exit all non-core business, cement major ACC Ltd has sold off its wholly-owned subsidiary ACC Machinery Company Ltd to HNG Group for a consideration of Rs 45 crore.

“ACC Machinery has reported a net profit of Rs 9.75 crore for the year ended December 31, 2007, while sales and other income amounted to Rs 63.24 crore. The company announced a dividend of Rs 190 per share aggregating Rs 7.60 crore,” ACC said in a BSE announcement. The company last year sold ACC Nihon Castings unit for Rs 30 crore.

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

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ACC sells machinery outfit

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