Ambuja Cement

ACC Ltd and Ambuja Cements, both Indian units of LafargeHolcim, plan to enter into a master supply agreement for cement, clinker, and raw materials. The agreement includes a 5% discount on average net selling price for cement.

ACC and Ambuja Cement, LafargeHolcim's Indian subsidiaries, have decided not to proceed with a merger but will instead work on an arrangement for mutual purchase and sale of materials and services. The proposal will go to shareholders for approval.

LafargeHolcim's subsidiary Ambuja Cement will build a new cement plant in Marwar Mundawa, Rajasthan, India, with a clinker capacity of 3.1 million tonnes per annum. The CHF200 million investment is due for commissioning in the second half of 2020.

The Board of Directors of ACC decided to commence an evaluation of a potential merger with Ambuja Cement. Both companies are part of the LafargeHolcim group. No decision to merge has been taken yet.

Ambuja Cement supplied 3.17 lakh tonnes of cement and provided technical support for the Chenani-Nashri road tunnel in Jammu and Kashmir, India's longest highway tunnel.

LafargeHolcim's subsidiary Holderind Investments increased its stake in Indian cement firms Ambuja Cement and ACC Ltd for around $317 million.