Aditya Birla to buy Kanoria's chloro chem div for Rs 830cr

"The Board of Directors of Aditya Birla Chemicals (India) Limited (ABCIL), a company of the Aditya Birla Group, today approved the acquisition of the Chloro Chemicals Division (CCD) of Kanoria Chemicals & Industries Limited (KCIL) for a cash consideration of Rs 830-crore," the company said in a release issued here.

Andhra Cements said that though substantial progress had been made to increase the plant capacity to 3.5 million tonne per annum from 1.4 million tonne, moderaisation and upgradation plans got delayed due to pending tie-up of the fund to meet the cost overrun.

The company reported Rs 35.5 crore loss for 2010-11 on a turnover of Rs 52.95 crore. In 2009-10, Andhra Cements had recorded Rs 47.69 crore net profit and Rs 295 crore sales.

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