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News Vicat buys out Vicat Sagar in India

Vicat buys out Vicat Sagar in India

Written by Global Cement staff 16 July 2014
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India: Vicat Group has purchased Sagar Cements' stake in Vicat Sagar Cement for US$72m, subject to customary conditions precedents. After this transaction, Vicat will own 100% of Vicat Sagar Cement. Together with the share purchase, the two groups will untie all their ownership links.

Vicat Sagar Cement operates a cement plant in North Karnataka with a cement production capacity of 3Mt/yr. The plant includes its own captive power plant and access to the rail network. Vicat's India operations, comprising Bharathi Cement and Vicat Sagar Cement, include two cement plants with a total production capacity of 8Mt/yr.

In 2013 Vicat reported sales of US$210m in India, a rise of 12.7% year-on-year. In the first quarter of 2014, sales in India rose by 27.2%.

Published in Global Cement News
Tagged under
  • India
  • VICAT
  • Vicat Sagar Cement
  • GCW159
  • France
  • Bharathi Cement

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