Business Daily from THE HINDU group of publications
Saturday, May 10, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Saturday, May 10, 2008 ePaper | Mobile/PDA Version | Audio |
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Corporate
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Mergers & Acquisitions Indorama Cement, Heidelberg to merge with Mysore Cement Our Bureau New Delhi, May 9 Indorama Cement Ltd and HeidelbergCement India Private Ltd have decided to merge with Mysore Cements Ltd. The boards of the three companies approved the proposal at their separate respective board meetings held on Friday at Gurgaon, Haryana. The merged entity will be headed by Mr Ashish Guha, Managing Director of Mysore Cements. Mr Guha told Business Line that the proposed merger will achieve greater synergies and improve managerial efficiencies. He said that the combined capacity of the merged entity will be nearly 2.8 million tonnes. Mr Guha said that the merger may not change the market share of the company since Indorama and Mysore Cements are operating in different regions. HeidelbergCement does not have any production in the country yet. The appointed date for the proposed merger is April 1, 2008. More Stories on : Mergers & Acquisitions | Cement
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