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ACC (company)

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Indian cement manufacturing company

ACC Limited
Each letter of "ACC" is colored in red.
ACC
FormerlyThe Associated Cement Companies Limited (1936–2006)
Company typePublic
BSE: 500410
NSE: ACC
IndustryBuilding materials
Founded1 August 1936; 88 years ago (1936-08-01)
HeadquartersMumbai,Maharashtra, India
Key people
ProductsCement
RevenueDecrease₹20,451 crore (US$2.3 billion) (2024)[2]
Increase₹2,529 crore (US$290 million) (2024)[2]
Increase₹2,336 crore (US$270 million) (2024)[2]
Total assetsIncrease₹23,385 crore (US$2.7 billion) (2024)[2]
Total equityIncrease₹16,333 crore (US$1.9 billion) (2024)[2]
OwnerAdani Group (56.69%)
Number of employees
3,884 (2024)[2]
ParentAdani Group
Websitedealers-nearme.acclimited.comEdit this at Wikidata

ACC Limited (FormerlyThe Associated Cement Companies Limited) is an Indian cement producer, headquartered inMumbai. It is a subsidiary ofAmbuja Cements and a part of theAdani Group. On 1 September 2006, the name of The Associated Cement Companies Limited was changed to ACC Limited. The company was established in Mumbai, Maharashtra on 1 August 1936.[3]

History

[edit]

In 1936, eleven cement companies belonging toTata,Khatau, Killick Nixon andFE Dinshaw groups merged to form a single entity, The Associated Cement Companies.Sir Nowroji B Saklatvala was the first chairman of ACC. The first board of directors had some prominent industrialists—J R D Tata,Ambalal Sarabhai,Walchand Hirachand,Dharamsey Khatau,Sir Akbar Hydari,Nawab Salar Jung Bahadur andSir Homy Mody.

The list of companies that were merged:[4]

  • The Indian Cement Co. Ltd.
  • The Katni Cement and Industrial Co. Ltd.
  • Budhi Portland Cement Ltd.
  • The Okha Cement Co. Ltd.
  • The Gwalior Cement Company Ltd.
  • The Punjab Portland Cement
  • The United Cement Co. Ltd.
  • The Shahabad Cement Co. Ltd.
  • The Coimbatore Cement
  • The Dewarkhand Cement Co. Ltd.
  • The C. P. Cement Co. Ltd.
The Gagal Cement Works of ACC Limited at Barmana, Himachal Pradesh.

The management control of the company was taken over by Swiss cement manufacturerHolcim Group in 2004. ACC operated as a subsidiary of Lafarge Holcim.[5] On 1 September 2006, the name of The Associated Cement Companies Limited was changed to ACC Limited. The company is the only cement company to get Superbrand status in India.[6]

On 14 April 2022, Holcim announced that it would exit from the Indian market after 17 years of operations as part of a strategy to focus on core markets and listed its stakes in ACC andAmbuja Cements for sale.

On 15 May 2022,Adani Group acquired Holcim's stake in ACC andAmbuja Cements for US$10.5 billion.[7]

See also

[edit]

References

[edit]
  1. ^"Neeraj Akhoury assumes charge as ACC's MD & CEO".Forbes India. Retrieved7 September 2018.
  2. ^abcdef"ACC Ltd. Financial Statemenrs"(PDF).bse.com.
  3. ^"ACC Ltd".Business Standard India. Retrieved7 June 2021.
  4. ^Pry Paul (1940).The Bombay Investors Year Book (1940).
  5. ^Naidu, Rajesh; Vyas, Jwalit (10 May 2017)."LafargeHolcim lays ground for merger of ACC and Ambuja, gets closer to rival UltraTech".The Economic Times. Retrieved7 September 2018.
  6. ^"ACC pockets Superbrand status".The Economic Times. 4 October 2004. Archived fromthe original on 30 June 2017. Retrieved17 March 2012.
  7. ^"Adani to become India's second-biggest cement maker with $10.5 billion Holcim deal".Reuters. 15 May 2022. Retrieved16 May 2022.

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