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    In 1936, eleven cement companies belonging to four groups merged to form The Associated Cement Companies (ACC). Sir Nowroji B Saklatvala was the first chairman and the board included prominent industrialists. In 2004, Swiss company Holcim took management control of ACC and it operated as a subsidiary. In 2006, ACC's name was changed to ACC Limited. In 2022, Adani Group acquired Holcim's stakes in ACC and Ambuja Cements for US$10.5 billion, gaining control of the two major cement companies in India.

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    History pdf

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    In 1936, eleven cement companies belonging to four groups merged to form The Associated Cement Companies (ACC). Sir Nowroji B Saklatvala was the first chairman and the board included prominent industrialists. In 2004, Swiss company Holcim took management control of ACC and it operated as a subsidiary. In 2006, ACC's name was changed to ACC Limited. In 2022, Adani Group acquired Holcim's stakes in ACC and Ambuja Cements for US$10.5 billion, gaining control of the two major cement companies in India.

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    © All Rights Reserved
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    11 views2 pages

    History PDF

    Uploaded by

    Megha Patil
    In 1936, eleven cement companies belonging to four groups merged to form The Associated Cement Companies (ACC). Sir Nowroji B Saklatvala was the first chairman and the board included prominent industrialists. In 2004, Swiss company Holcim took management control of ACC and it operated as a subsidiary. In 2006, ACC's name was changed to ACC Limited. In 2022, Adani Group acquired Holcim's stakes in ACC and Ambuja Cements for US$10.5 billion, gaining control of the two major cement companies in India.

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    © All Rights Reserved
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    History

    In 1936, eleven cement companies belonging to Tata, Khatau, Killick Nixon and FE
    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 and Sir 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 company was taken over by Swiss cement


    manufacturer Holcim Group in 2004. ACC operated as 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 and Ambuja Cements for sale.

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

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