India ACC Apr-Jul ' 96 sales , output up .
BOMBAY 1996-08-28
India 's leading cement firm Associated Cement Companies ( ACC ) said on Wednesday its cement sales rose to 3.1 million tonnes in April-July 1996 from 2.93 million a year ago .
ACC Chairman Nani Palkhivala told shareholders at the firm 's annual meeting cement output rose to 3.14 million tonnes in the first quarter of 1996/97 ( April-March ) , from 3.01 million a year ago .
Palkhivala said ACC had secured government approval to take over a sick cement firm with a grinding capacity of 275,000 tonnes per year . "
We will take it over early next month , " he said .
Talking about the cement industry in general , Palkhivala said Indian production rose by about 10 percent in 1995/96 .
" The industry saw capacity expansion of about 13 percent over 1994/95 from 77.79 million tonnes to 87.45 million tonnes , " Palkhivala told shareholders .
He said Indian cement exports dropped about eight percent from the previous year because of stiff international competition and inadequate infrastructural facilities .
ACC 's own export performance was marginally better than in 1994/95 on account of a 36 percent rise in exports to Nepal and the opening of a new market - Sri Lanka , he said .
Despite power shortages , ACC achieved a satisfactory growth in production during the year with the help of its power plants .
ACC sold 9.4 million tonnes in 1995/96 , retaining its top position in the Indian cement industry , Palkhivala said .
-- Bombay newsroom +91-22-265 9000