Ambuja buys My Home’s cement unit in Tamil Nadu
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In addition to the infrastructure and geographical advantages, Ambuja Cements will also inherit the existing dealer network and retain current employees, facilitating a smooth transition and enabling the rapid ramp-up of utilization - Ajay Kapur, CEO (Cement Business), Adani Group
Ahmedabad: In a bid to enhance coastal footprint across southern markets, the Adani Group’s building material company Ambuja Cements on Monday announced to acquire My Home Group’s 1.5 MTPA (million tonnes per annum) cement grinding unit in Tuticorin, Tamil Nadu, for Rs413.75 crore. Ambuja Cements has signed a definitive agreement to acquire the cement grinding unit of the My Home Group. The acquisition, funded through internal accruals, takes Adani Group’s total cement capacity to 78.9 MTPA, the company said in a statement. The buyout deal will aid in enhancing the coastal footprint.
