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Strategies & Market Trends : India Coffee House

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To: Mohan Marette who wrote (9253)11/1/1999 10:30:00 PM
From: Mohan Marette  Read Replies (1) of 12475
 
Lafarge (France) acquires Tisco's cement unit

tatasteel.com

MUMBAI, Nov. 1 (BL)

LAFARGE India Pvt Ltd has formally acquired control of Tisco's 1.1 million tonnes cement division after approvals from various authorities. Earlier, Lafarge signed a deal with Tisco to acquire the division for a consideration of Rs. 550 crores.

Apart from the mining lease, Lafarge has entered into a contract with Tisco for the supply of slag. "We are excited to be in India and are committed to the long-term development of our business here," Mr. Thomas Farrel, Chief Executive Officer of Lafarge India, said.

Lafarge already has a presence in India in roofing products under a joint venture with Comtrust in Kerala, a statement from the company said.
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