Kajaria Ceramics has acquired 51 per cent stake in Vennar Ceramics, a subsidiary of Anjani Portland Cement (APC), by way of subscribing to fresh equity share capital of the company for Rs. 13.65 crore.
Kajaria Ceramics chairman Ashok Kajaria said: “This is the first acquisition by Kajaria in South India. Vennar is putting up a brand new plant which would start commercial production in June 2012”.
This will help Kajaria to cater to the southern markets from this plant enabling the company to reduce the transit time and savings in transportation cost.
The highend ceramic wall tile unit will come up at Kaikalur near Vijaywada in Andhra Pradesh .
Source: My Digital FC