Holcim mulls more quality assets buy in India

After acquiring majority stake in ACC and Ambuja Cements, Swiss cement major Holcim is open to more good quality assets buy in India. We are always open to acquisition. However, nothing is brewing, as of now," Onne van der Weijde, Holcim's Senior Vice President (South Asia) told PTI.
Weijde said that large capacity was not the prime criteria that Holcim was looking at, but the target company has to be a good fit into its existing portfolio.
"It has to be a good quality asset and a good fit into our portfolio," he said.
Holcim, the second-biggest player in the Indian market, has a combined annual capacity of more than 41 million tonnes through its Group companies, ACC and Ambuja Cements. It operates 24 plants in India.
ACC plans to increase its production capacity to 30.58 million tonnes a year in the next two years. Ambuja Cements produced 17.8 million tonnes of cement in 2008 and is on track to increase clinker capacity by 4.4 million tonnes by 2009-end.
Holcim has 46.21 per cent stake in ACC and 45.67 per cent stake in Ambuja Cements as on December 31, 2008.