JK Cement buys assets of Nihon Nirman for Rs 42 cr

Mumbai : With reference to the article that appeared on Moneycontrol.com on January 31, 2007, JK Cement Limited has clarified that it has bought only the production facilities of Nihon Nirman through an auction, and not taken over the entire company. The production facilities were auctioned off by Industrial Development Bank of India as Nihon had defaulted on its loans to the financial institution, JK Cement said in its clarification.