Kajaria Ceramics Ltd (KCL) has formed a joint venture with Vennar Ceramics, a subsidiary of Anjani Portland Cement, to manufacture wall tiles. The company has acquired a 51 per cent stake in Vennar Ceramics by way of subscribing to fresh equity share capital for a sum of Rs 13.65 crore. The joint venture will set up a unit at Kaikalur near Vijaywada in Andhra Pradesh with a capacity to produce 2.30 million sq metre a year of high-end ceramic wall tiles. It will also mark the entry of Kajaria with a manufacturing plant in South India. In a press release, Mr Ashok Kajaria (Chairman), Kajaria Ceramics, said this is the first acquisition by Kajaria in South India. Vennar is putting up a brand new plant which would start commercial production in June 2012. This will help Kajaria cater to the southern markets by reducing the transit time for the delivery of goods and savings in transportation costs.
Kajaria Ceramics, Vennar in joint venture
Hyderabad, April 18: