RodolfoTorpy at 07:53, 7 September 2023

2023-09-07T07:53:07Z

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{{Short description|Indian cement manufacturing company}}
{{Use Indian English|date=February 2017}}
{{Use dmy dates|date=November 2020}}
{{Infobox company
| name = ACC Limited
| logo = ACC Limited logo.svg
| logo_size = 125px
| logo_alt = Each letter of "ACC" is colored in red.
| image =
| image_caption = ACC headquarters in Mumbai
| type = [[Public Company|Public]]
| traded_as = {{BSE|500410}}<br/>{{NSE|ACC}}
| founded = {{Start date and age|df=yes|1936|08|01}}
| hq_location = [[Mumbai]], [[Maharashtra]], India
| num_locations =
| key_people = {{unbulleted list|[[Narotam Sekhsaria|N. S. Sekhsaria]] ([[Chairman]])|Ajay Kapur ([[Managing Director|MD]] & [[Chief Executive Officer|CEO]])<ref>{{cite web |title=Neeraj Akhoury assumes charge as ACC's MD & CEO |url=http://www.forbesindia.com/article/special/neeraj-akhoury-assumes-charge-as-accs-md-ceo/45793/1 |website=[[Forbes India]] |access-date=7 September 2018}}</ref>}}
| industry = [[Building material]]s
| products = [[Cement]]
| revenue = {{increase}} {{INRConvert|22552|c}} (2023)<ref name="Financials">{{cite web|url=https://www.moneycontrol.com/india/stockpricequote/cementmajor/acc/ACC06|title=ACC Ltd. Financial Statements |website=moneycontrol.com}}</ref>
| operating_income = {{Decrease}} {{INRConvert|1083|c}} (2023)<ref name="Financials"/>
| net_income = {{Decrease}} {{INRConvert|885|c}} (2023)<ref name="Financials"/>
| assets = {{Decrease}} {{INRConvert|20543|c}} (2023)<ref name="Financials"/>
| equity = {{Decrease}} {{INRConvert|14138|c}} (2023)<ref name="Financials"/>
| owner = [[Adani Group]] (56.69%)
| num_employees = 8,200 (2022)<ref name="Financials"/>
| parent = [[Adani Group]]
| website = {{Official URL}}
}}

'''ACC Limited''' (Formerly '''The Associated Cement Companies Limited''') an Indian cement producer, headquartered in [[Mumbai]]. It is a subsidiary of [[Ambuja Cements]] and a part of the [[Adani Group]]. On 1 September 2006, the name of The Associated Cement Companies Limited was changed to ACC Limited. The company was established in Mumbai, Maharashtra on 1 August 1936.<ref>{{Cite news|title=ACC Ltd.|work=[[Business Standard India]]|url=https://www.business-standard.com/company/acc-6/information/company-history|access-date=2021-06-07}}</ref>

==History==
In 1936, eleven cement companies belonging to [[Tata Group|Tata]], [[Khatau]], Killick Nixon and [[FE Dinshaw]] groups merged to form a single entity, The Associated Cement Companies. [[Nowroji Saklatwala|Sir Nowroji B Saklatvala]] was the first chairman of ACC. The first board of directors had some prominent industrialists—[[J R D Tata]], [[Ambalal Sarabhai]], [[Walchand Hirachand]], [[Khatau|Dharamsey Khatau]], [[Akbar Hydari|Sir Akbar Hydari]], [[Mir Yousuf Ali Khan, Salar Jung III|Nawab Salar Jung Bahadur]] and [[Homi Mody|Sir Homy Mody]].

The list of companies that were merged:<ref>{{Cite book|url=https://archive.org/details/in.ernet.dli.2015.1164|title=The Bombay Investors Year Book (1940)|last=Pry Paul|date=1940}}</ref>
* The Indian Cement Co. Ltd.
* The Katni Cement and Industrial Co. Ltd.
* Budhi Portland Cement Ltd.
* The Okha Cement Co. Ltd.
* The Gwalior Cement Company Ltd.
* The Punjab Portland Cement
* The United Cement Co. Ltd.
* The Shahabad Cement Co. Ltd.
* The Coimbatore Cement
* The Dewarkhand Cement Co. Ltd.
* The C. P. Cement Co. Ltd.

[[File:Gagal Cement Works - ACC Limited - Barmana - Bilaspur 2014-05-09 2137.JPG|thumb|264px|The Gagal Cement Works of ACC Limited at Barmana, Himachal Pradesh.]]

The management control of company was taken over by Swiss cement manufacturer [[Holcim Group]] in 2004. ACC operated as subsidiary of Lafarge Holcim.<ref name="Naidu">{{Cite news |last=Naidu |first=Rajesh |last2=Vyas |first2=Jwalit |date=2017-05-10 |title=LafargeHolcim lays ground for merger of ACC and Ambuja, gets closer to rival UltraTech |work=The Economic Times |url=https://economictimes.indiatimes.com/industry/indl-goods/svs/cement/lafargeholcim-lays-ground-for-merger-of-acc-ambuja-gets-closer-to-rival-ultratech/articleshow/58541813.cms |access-date=2018-09-07}}</ref> On 1 September 2006, the name of The Associated Cement Companies Limited was changed to ACC Limited. The company is the only cement company to get Superbrand status in India.<ref name="accsuperbrand">{{cite news|url=http://economictimes.indiatimes.com/acc-pockets-superbrand-status/articleshow/872860.cms|title=ACC pockets Superbrand status|date=4 October 2004|work=[[The Economic Times]]|access-date=17 March 2012 |archive-url=https://web.archive.org/web/20170630173728/http://economictimes.indiatimes.com/acc-pockets-superbrand-status/articleshow/872860.CMS |archive-date=30 June 2017}}</ref>

On 14 April 2022, Holcim announced that it would exit from the Indian market after 17 years of operations as part of a strategy to focus on core markets, and listed its stakes in ACC and [[Ambuja Cements]] for sale.

On 15 May 2022, [[Adani Group]] acquired Holcim's stake in ACC and Ambuja Cements for US$10.5 billion.<ref>{{Cite news |date=2022-05-15 |title=Adani to become India's second-biggest cement maker with $10.5 billion Holcim deal |language=en |work=Reuters |url=https://www.reuters.com/business/adani-group-acquire-holcims-india-business-639-billion-2022-05-15/ |access-date=2022-05-16}}</ref>

==See also==
* [[Associated Cement Company cricket team]]

==References==
{{Reflist}}

== External links ==
* {{Official}}

{{Holcim}}
{{Nifty 200 companies}}

[[Category:Cement companies of India]]
[[Category:Manufacturing companies based in Mumbai]]
[[Category:Manufacturing companies established in 1936]]
[[Category:Indian companies established in 1936]]
[[Category:Holcim Group]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Companies listed on the Bombay Stock Exchange]]
[[Category:Adani Group]]

ACC company - Revision history

RodolfoTorpy at 07:53, 7 September 2023