India Cements to merge with its subsidiary

As a part of their restructuring plan, India Cements is planning to merge with its subsidiary Trinetra Cement. The company is also planning to sell large portions of land near their plants in Tamil Nadu and Andhra Pradesh, along with looking at real estate development. The merger of Trinetra Cement and Trishul Concrete Products with India Cements will bring operations under one company. Post merger, the total capacity of India Cements would go up to 15.8 million tonnes. From a two plant company with the capacity of just 1.3 million tonnes in 1989, in the last two decades India Cements’ total capacity increased to 15.5 million tonnes per annum. It has seven integrated cement plants in Tamil Nadu and Andhra Pradesh, one in Rajasthan (through its subsidiary, Trinetra Cement) and two grinding units, one each in Tamil Nadu and Maharashtra. India Cements is largest manufacturer of cement in South India. India Cements owns 28% of the market share and is leader in south India. The cement manufacturer aims 35% market share. It has distribution network of 10,000 stockists.