Holcim successfully completes strategic transactions in India

11 April 2005
 

Holcim controlled Ambuja Cement India Ltd. will become the 2nd largest cement group in India.
Holcim has successfully completed the strategic transactions in India as announced earlier this year. The Group now holds 67 percent of the equity capital in Ambuja Cement India Ltd. with Gujarat Ambuja Cements Ltd. holding the remaining 33 percent. As the holding company bundling Holcim's engagement in India, Ambuja Cement India Ltd. holds 94 percent in Ambuja Cement Eastern Ltd. and 34.6 percent in The Associated Cement Companies Ltd. This corresponds to a total investment of USD 518 million.

The public purchase offer of Ambuja Cement India Ltd. to the shareholders of The Associated Cement Companies Ltd. closed on April 11, 2005. Ambuja Cement India Ltd. was tendered 20.8 percent of the share capital of The Associated Cement Companies Ltd. at a price of Rs 370 per share. Ambuja Cement India Ltd. now holds a stake of 34.6 percent in The Associated Cement Companies Ltd. and is the largest shareholder and now promoter of the company. Appropriate notifications will be made soon.

With the completion of these transactions Holcim has established a strong foothold in India with a total influenced production capacity of more than 20 million tonnes through Ambuja Cement India Ltd., which will become the second largest cement group in India. Holcim is committed to the dynamic Indian cement market. Holcim will participate in the management of The Associated Cement Companies Ltd. by sharing its expertise for the benefit and the growth of The Associated Cement Companies Ltd. and Ambuja Cement Eastern Ltd. The pan Indian positioning of the two companies in combination with a pool of well-educated and experienced human resources provides Holcim and Ambuja Cement India Ltd. with a unique platform to participate in and to capture the growth of the world's 2nd largest cement market.

The Associated Cement Companies Ltd. and Ambuja Cement Eastern Ltd. are professionally managed companies with 12 cement and three grinding plants with a total production capacity of 18.2 million tonnes and 2 million tonnes respectively.


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Holcim is one of the world's leading suppliers of cement, aggregates (crushed stone, sand and gravel), concrete and construction-related services. The Group holds majority and minority interests in more than 70 countries on all continents.
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Important Notice regarding Associated Cement Companies: The offer for the shares in the Associated Cement Companies will be made in compliance with the Indian Takeover Code, as supervised by the Securities and Exchange Board of India. Investors outside of India are advised to consult their legal and financial advisers as to whether, and under what circumstances, they are allowed to tender their shares in the offer. The offer is not being made, directly or indirectly, in or into, or by use of the mails or any means or instrumentality (including, without limitation, facsimile transmission, telephone and internet) of interstate or foreign commerce of, or any facilities of a national, state or other securities exchange of, United States, Canada, Japan or Australia and the offer will not be capable of acceptance by any such use, means, instrumentality or facility of, or from or within United States, Canada, Japan or Australia. Accordingly, copies of this announcement are not being, and must not be, directly or indirectly, mailed or otherwise forwarded, distributed or sent in, into or from United States, Canada, Japan or Australia and persons receiving this announcement (including custodians, nominees and trustees) must not mail or otherwise distribute or send it in, into or from United States, Canada, Japan or Australia as doing so may invalidate any purported acceptance of the offer.

 
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