ACC

1936
 
 
 
 - The Company was Incorporated at Mumbai.  The Company manufacture
 cement, refractories and cement plant and other heavy machinery
 including structural and mild fabrications.  The Company undertook
 revamping of the Kymore unit for production of high value refractory
 intermediates.  ACC, is India's oldest and largest cement company,
 belonging to the Tata group.
 
 - 6,03,200 No. of equity shares issued for consideration other than
 cash.
 
 1959
 
 - In January, the Company in association with Vickers Ltd., and
 Babcock
 & Wilcox Ltd., formed a new company called ACC-Vickers-Babcock &
 Wilcox
 Ltd., formed a new company called ACC-Vickers-Babcock Ltd.
 
 1965
 
 - On 12th March, two agreements were signed between the Government
 of
 West Pakistan and the Company for the sale of all the immovable
 properties of the Company at Wah and Rohri in Pakistan to the
 Government of Pakistan.  According to these agreements, a total
 consideration of Rs 3.26 crores was payable by the Government of
 West
 Pakistan to the Company in seven annual instalments along with
 interest
 due.
 
 - The Government of West Pakistan caused the Mumbai Branch of the
 First
 National City Bank to furnish an irrevocable and without recourse
 guarantee to the Company.
 
 - 4,74,731 Right Equity shares issued at par in the prop. 1:5.
 
 1973
 
 - The Company owned two collieries, one at Nowrazabad and the other
 at
 Kotma, both in M.P.  Both the Collieries were taken over by
 Government
 with effect from 1st May, under the provisions of the coal Mines
 (Nationalisation) Act, 1973.
 
 1975
 
 - With the acquisition of 2,86,000 shares during the year, AVB became
 a
 subsidiary of the Company.
 
 1979
 
 - The Company received intimation that the Commissioner of Payments
 had
 authorised a provisional payment of Rs 61.01 lakhs out of which a
 sum
 of Rs 6 lakhs was kept aside towards claims of the third parties
 which
 were pending in appeals.
 
 - 4,74,731 Bonus shares issued in prop. 1:6.
 
 1980
 
 - The Company entered the field of chemical engineering as process
 consultant and secured orders as well as turnkey contracts.  The
 provisional payment of Rs 60.01 lakhs was received.
 
 1981
 
 - The name of this subsidiary was changed to ACC-Babcock Ltd.,
 consequent upon the disinvestment of the shareholding of Vickers
 Ltd.,
 U.K., in the Company.
 
 1982
 
 - The Company also received a communication in April, from the State
 Cement Corporation of Pakistan Ltd. (SCCPL), informing the Company
 that
 they do not accept the judgement of the Mumbai High Court as final
 and
 binding and as alleged successors-in-title they intend to proceed
 for
 arbitration in the matter of settlement of Company's sale price for
 its
 undertaking in Pakistan.
 
 1985
 
 - A Collaboration agreement was finalised with Licensintorg of
 Moscow,
 U.S.S.R. for acquisition of `low temperature' technology for savings
 in
 fuel consumption, increase in production capacity and improvement in
 the whiteness index in the manufacture of white cement.
 
 - 6,64,623 Bonus Equity shares issued in prop. 1:5.
 
 1986
 
 - 80,882 No. of Equity shares issued to financial institution in
 conversion of loans/debs. and another 16.175 shares allotted to them
 as
 bonus shares in respect of those shares.
 
 1987
 
 - During October, the Company issued 20,42,399 - 12.5% debentures of
 Rs
 125 ech to shareholders on rights basis in the proportion 1
 debenture:
 2 equity shares.  Of these, 14,94,931 debentures were taken up.  The
 unsubscribed portion of 5,47,468 debentures were not allotted and
 the
 issue was treated as closed.
 
 - Another 1,02,120 - 12.5% debentures of Rs 125 each were offered to
 the employees (including Indian working directors) of the Company on
 an
 equitable basis.  Only 15,776 debentures were taken up.  The
 unsubscribed portion of 86,344 debentures was allowed to lapse.
 
 1988
 
 - The entire face value of each debenture was compulsorily and
 automatically converted into 1 equity shares of Rs 100 each at a
 premium of Rs 25 per share as at 1st June.  15,10,707 No. of equity
 shares were issued on 1st June, by virtue of this conversion.
 
 1989
 
 - As per the agreement signed on December 16th, the four loss making
 plants viz., Shahabad (Karnataka), Lalani (Bihar), Kistna (AP) and
 Porbandar (Gujarat), were sold and handed over to the purchases in a
 phased manner between the period December 1989 and February 1990.
 
 - The Company undertook to set up a project for the use of 100%
 lignite
 at Madukkarai Works in technical assistance with M/s.  Rheinbraun
 Engineering of W. Germany.
 
 - The Company also assisted the plant suppliers in commissioning and
 other activities preceding the take over of the management operation
 and maintenance of the one million TPA cement plant at A1-Qaim.
 
 - A Memorandum of Understanding was signed with M/s. Nihon Cement
 Company, Japan for offering joint services in process engineering
 and
 productivity services, erection and construction, geological,
 environment and mining etc.
 
 1990
 
 - Production of grey cement at 74 lakh tonnes was almost same as in
 the
 previous year, that of refractory products stood lower at 31,742
 tonnes
 due to a 4 months strike at the Katni plant.
 
 - The coal washing at the Kymore cement works was machanically
 completed and was commissioned in 1991-92.
 
 - The products developed in-house were dark colour portland slag
 cement, CASAL - non portland cement for concrete repairs,
 `Shrinkkump-40', a new grouting formulation with rapid hardening
 properties CALAL-65 a new calcium aluminate cement for refractory
 application and Low Cement Castable - a new generation refractory
 material.
 
 1991
 
 - The Company entered into an agreement with Refractechnik, Germany
 for
 manufacture of high quality bricks for the cement industry.  Also an
 additional turbine of 25 MW capacity was being installed at the
 existing 25 MW captive power plant at Wadi works.
 
 - The Company undertook to set up a synthetic ferric oxide plant of
 10,000 tonnes per annum capacity at Falta in West Bengal at an
 estimated cost of Rs 24 crores.
 
 - The Company entered into a joint venture agreement with Nihon
 Cement
 Co. Ltd., Japan, pursuant to which a new company viz., Acc-Nihon
 Castings Ltd. (ANCL) was incorporated for manufacture of high
 quality
 alloy steel castings.
 
 1992
 
 - A technological collaboration agreement was entered into with
 International Steel Services Inc. USA for supplying IROX-NKK
 technology
 for setting up the Company's 10,000 TPA high purity synthetic ferric
 oxide plant at Falta in West Bengal.
 
 - One of the rotary kilns at Sindri Works was converted to slag
 drier
 and new auxillary equipment installed to enable during of wet slag
 received from steel plants for manufacture of portland blast furnace
 slag cement.
 
 - Also seven large electrostatic precipitators were installed
 completing the programme for providing individual ESP's to all the
 27
 kiln operated by the Company.
 
 - In addition, the Company proposed to acquire a significant equity
 stake in Webel Electro Ceramics Ltd., in Kalyani, West Bengal.  It
 had
 set up a modern plant for the manufacture of soft ferrites.
 
 - The Company along with TELCO, and Tata Exports Ltd., signed a
 joint
 venture agreement with Asahi Glass Co. Ltd., Japan for participating
 in
 the equity of Floatglass India Ltd., for manufacture of float glass
 at
 Taloja, Maharashtra.
 
 - An integrated pilot plant was set up for a new generation of
 refractories.
 
 - 22,38,202 Bonus Equity shares issued in November in prop. 2:5.
 
 1993
 
 - The Company undertook to instal additional power plant of 25 MW
 capacity at Wadi works.
 
 - Advanced research work was carried on in the field of chemically
 bonded ceramics in collaboration with materials research laboratory
 of
 the Pennsylvania State University, USA.
 
 - The Company entered into a joint venture agreement with Aluminium
 Company of America (ALCOA) USA.  The joint venture company Alcoa-Acc
 Industrial Chemicals Ltd., is to set up a 10,000 TPA capacity plant
 at
 Falta in W. Bengal.
 
 - A MOU was signed in the Fars Khuzistan Cement Co., Iran for a
 joint
 venture company to be set up in Iran for providing engineering and
 consultancy services in governmental and specifically in the areas
 of
 process dignostics productivity optimization, plant upgradation etc.
 
 1994
 
 - The Company signed a MOU for management, operation and maintenance
 of
 the existing 1.2 million TPA cement plant at Yanbu for a period of 3
 years commencing from March 1996, with Yanbu cement company.
 
 - The Company proposed to undertake major modernisation programme of
 its old unit at Lakheri & Kymore by adopting dry process technology
 at
 a total estimated cost of Rs 123 crores.
 
 1995
 
 - The new 1.2 MTPA clinkering unit at Kymore and the cement
 grinding,
 packing and loading plant at Kymore was modernized and made
 operational.
 
 - The surplus clinker from Kymore would be supplied to a new
 grinding
 unit to be set up in Uttar Pradesh and the balance to Sindri Works,
 where the grinding, packing and loading capacity was under expansion
 from 0.3 MTPA to 0.6 MTPA.
 
 - Operation of the Cement plant unit at Bandra-Kurla Complex was
 expanded.  A second unit was commissioned at Kalamboli to supply
 ready
 mixed concrete in the Navi Mumbai area.  The third RMC plant was
 commissioned at Bangalore to facilitate the supply of quality
 concrete
 to the expanding construction activities in the city.
 
 - The Company signed a joint venture agreement with Bridgestone
 Corporation, Japan, for setting up a plant near Indore in Madhya
 Pradesh for manufacture of internationally renowned Bridgestone
 brand
 of all steel radial tyres for motor vehicles.
 
 - Approvals were received for issue of equity shares and/or equity
 related instruments for a Euro issue of upto US $ 100 million.
 Approval was received for issue of upto 5,00,000 warrants to certain
 Tata Companies.
 
 - Cement Marketing Co. of India Ltd., Associated Tyre Machinery Co.
 Ltd. and ACC Nihon Castings, Ltd. are subsidiaries of the Company.
 
 - 7,29,565 Rights shares issued (Prop. 1:10; Prem. Rs 39.00).
 
 1996
 
 - The company was awarded another contract for management operation
 and
 maintenance of a new two MTPA cement plant at Saudi Arabia.
 
 - The Company proposed to set up a new cement plant at Wadi with an
 initial capacity of 2 MTPA.
 
 - The Company's new unit at Nagpur for manufacture of monolithic
 refractories was partly commissioned.  New products under licence
 from
 M/s. Intoeast of Germany were produced for the first time at Nagpur.
 
 - The Company also offered consultancy services in respect to design
 and drawings for the construction of cement plants, refractory
 linings
 and technical know-how in prospecting work.
 
 - 51,37,971 bonus equity shares issued in prop. 3:5.
 
 1997
 
 - A memorandum of understanding (MoU) was signed to facilitate the
 new
 venture by KPCL managing director K Jairaj and his ACC counterpart T
 M
 M Nambiar in the presence of Karnataka Chief Minister J H Patel.
 
 - The Associated Cement Companies (ACC) has set up a modern
 pre-grinding unit based on the vertical pre-grinder technology at
 its
 plant in Chanda, Maharashtra.  The pre-grinder, set up for the first
 time in the country, has been developed by ACC Machinery Company Ltd
 (AMCL), a 100-per cent subsidiary company.
 
 - ACC's Wadi plant in Karnataka is installing a single kiln with a
 capacity of 10,000 tonnes per day (tpd).
 
 - The Associated Cement Companies (ACC) will enter the syndicated
 debt
 market shortly with a seven-year floating rate paper of Rs.100-crore
 with the coupon pegged at three to 3.5 percentage points above the
 bank
 rate of nine per cent.  The paper will have a put-and-call option
 after
 five years.
 
 1998
 
 - The modernisation project at Sindri was commissioned during April
 and
 the new portland pozzolana cement grinding unit of 0.6 MTPA capacity
 at
 Tikaria in U.P. was under implementation.
 
 - ST-BSES, the coal washing joint venture between BSES Ltd, Spectrum
 Technologies and CLI Corporation of USA, has signed up with the
 cement
 major ACC Ltd to sell washed coal.
 
 - ACC and Ebara Corporation of Japan have signed an MoU for joint
 implementation of environment-related projects in India.
 
 - ACC Ltd has bagged the Ficci award for adopting innovative
 measures
 for pollution control, waste management and conservation of mineral
 resources in mines and cement plants in Himachal Pradesh.  The award
 is
 for the Gagal cement unit, which has also received the ISO 14000
 certification from the Bureau of Indian Standards.
 
 - ACC made a preferential offer of naked warrants/equity shares to
 the
 promoter group at an exercise price of Rs. 110 per share.
  
 - ACC made a rights offer of equity at a price of Rs. 55 per share,
 and
 subdivide the face value of shares of Rs. 100 each to Rs. 10 each
 have
 stirred a hornet's nest.
 
 1999
 
 - In Jan. 1999, the company came out with the rights issue of equity
 shares of Rs 10 each at a premium of Rs 45 per equity shares in
 ratio
 of 1:4 to raise funds for capital expenditure on
 modernisation/expansion of existing plants and creation of new
 capacity
 at wadi. Also, in Nov. 1999, it commenced commercial production of
 captive power plants with capacity of 25 MW each at Jamul and
 Kymore.
 
 - ACC's objective is to increase its cement capacity by
 approximately
 three million tonnes per annum over the next two years.
 
 - Of the 14,31,022 scam-tainted shares, which constitute 10.4 per
 cent
 of the total equity, 6,76,731 shares are held in the name of
 notified
 parties - of which the Harshad Mehta group's holding adds up to
 6,23,345 shares.  Benami shares, allegedly held by Harshad Mehta,
 amount to 6,50,356 shares, while unregistered shares amount to
 1,03,935
 shares.
 
 - The ACC has set up an internal committee to review investments in
 subsidiaries and associate companies.
 
 - Shares of cement major ACC Ltd shot up by Rs 100 to Rs 1,450 after
 the market was abuzz with unconfirmed reports that French cement
 major
 Lafarge had appointed an investment bank to negotiate a buyout of
 financial institutions' stake in the Tata group cement company.
 
 - The Rs 2,500-crore ACC plans to double capacity at its Wadi,
 Gulbarga
 plant from the present two million tonnes to four million.
 
 - ACC Ltd will offer ready-to-use value-added products in a year's
 time.  The `Suraksha' brand was launched a year ago in the Konkan
 region and has features which make it a durable cement for the
 coastal
 belt.
 
 - The ACC has taken up capital expenditure programme amounting to Rs
 750 crore for modernisation-cum-expansion of the existing plants and
 the creation of new capacity additions at Wadi or through
 acquisitions.
 
 
 - ACC is making a rights offer to part-finance its
 expansion/modernisation programme at its existing plants, and set up
 a
 new unit at Wadi.
 
 2000
  
 - Tata group has exited from the company by divesting their 14%
 equity
 stake in favour of Gujarat Ambuja group. Notably, Gujarat Ambuja
 group
 is the most efficient and aggressive cement group in India. The
 disinvestment was done in phases at Rs 370 per sahre. ACC has
 completed
 the modernization and expansion of the Chanda and Madukkarai cement
 plants for increasing their capacities to around 1 MTPA each. These
 plants started production from 1 September 2000 and 1 October 2000
 respectively. The de-bottlenecking at Chanda, Gagal and Madukarrai
 plants have added 1 MT to ACC's installed capacity.  
 
 - During the quarter ended Mar. 2001, the company commissioned its
 new
 Wadi plant of 2.6 MTPA, which is the largest kiln in the country.
 With
 the commissioning of this plant, ACC's installed capacity of cement
 is
 the highest in the industry at 15.3 million tonnes.
  
 Also, the construction of a 15-MW thermal power plant at Chanda
 Cement
 Works is progressing satisfactorily and will be completed as per
 schedule. ACC also plans to have a similar power plant of 15 MW at
 Madukkarai.
  
 ACC has decided to put on hold its plans to set up five new ready
 mix
 concrete (RMC) plants. Instead, it has decided to consolidate the
 existing 13 RMC units and to go in for a capacity expansion of these
 operational units.
  
 The company, along with the Tatas, has decided to exit from the
 ailing
 business at Floatglass India. ACC holds around 13% stake in that
 company. Asahi Glass of Japan, a co-promoter and the single largest
 stakeholder, has agreed to buy their stakes. The sale of the equity
 stake, stake in preference capital as well as non-compete fee will
 fetch Rs 19.9 crore to ACC.
  
 - The Company has turned down a proposal from the Gujarat Ambuja
 nominees on its board to set up its own diesel generating sets for
 the
 expended capacity at Wadi, Karnataka, instead of sourcing power from
 the Tata Electric Companies.
 
 - The Company has suspended operations at one of its smaller cement
 works at Mancherial, which has a capacity of about 330,000 tonnes. 
 The
 suspension is due to non-availability of lime-stone.
 
 - ACC is likely to set up a 1-million tonne per annum cement plant
 in
 Bellary.
 
 - The Company proposes to exit from its non-core businesses.
 
 2002
 
 - ACC Ltd has informed that 18300 shares have been allotted to the
 permanent employees of the company including employees retired
 during
 the FY 2001-02. The company has received from applicants the issue
 price of Rs.108/- per share in full for 18300 shares allotted on
 December 31, 2001.
 
 - The ACC .Mr. T.M M Nambiar has been re-appointed as Managing
 Director
 for a further period from June 01, 2002 to November 30, 2002 on the
 existing terms and conditions.
 
 2. M L Narula, Wholetime Director, is redesignated as Chief
 Operating
 Officer. In addition to his current responsibilities of being
 incharge
 of the Cement Business, Mr. Narula will be also directly supervise
 the
 Human Resources and Finance functions. He will continue to report to
 the Managing Director.
 
 3. Mr. A K Jain, President-Marketing has been inducted on the Board
 in
 the casual vacancy of Dr AK Chatterjee and appointed Wholetime
 Director
 for a period of three years with effect from January 25, 2002.
 
 2002
 
 - Associated Cement Companies Ltd has informed that Mr P J Jagus has
 resigned from the Board of Directors of the company wef January 25,
 2002 after a long and fruitful association of 55 years with ACC. The
 Board has at its meeting held on January 25, 2002 appointed Mr S M
 Palia as a Director in the Casual vacancy.
  
 - In Feb. 2002, consequent upon the transfer of shares from Etex
 Group
 to the company, Eternit Everest has become a subsidiary of the
 company
 w.e.f. 12.02.02. The company now holds 76.01% of the total equity
 shares of Eternit Everest Ltd.
 
 -ACC re-appoints P K Sinor as Wholetime Director.
 
 -Associated Cement Companies Ltd has informed that pursuant to the
 resolution passed by circular dated June 10, 2002, by the
 Shareholders/Investors Grievance Committee, 12100 shares were
 allotted against exercise of Stock Options granted to employees under
 the Employees Stock Option Plan 2000.Consequently the paid up share
 capital of the Company has increased from 1,70,811,885 shares as on
 May 16, 2002 to 1,70,823,985 shares of Rs 10/- each as of date.
 
 -Associated Cement Companies Ltd has informed that a share purchase
 and transfer agreement has been executed between ACC and EPCOS AG,
 Germany, for sale of 1,52,18,098 equity shares of the face value of
 Rs 10 each held by ACC in International Ferrites Ltd (IFL) to EPCOS
 AG, Germany. This constitutes the sale of ACC's entire shareholding
 in IFL amounting to about 35% of IFLs share capital.
 
 -ACC divests its entire holding in GRUH Finance in favour of HDFC.
 
 -T M M Nambiar retires as Managing Director of ACC wef December 01,
 2002.
 
 -Chairman Emeritus Mr N A Palkhivala expires
 
 -Singapore Investment Corp increases its stake in ACC up to 5.04%
 
 -Divests 500,000 shares of Tata Industries
 
 -Stops its agrotech and mining operations
 
 -Appoints Mr. M L Narula as managing director in place of Mr. T M M
 Nambiar
 
 -Receives full consideration for sale of equity shares in
 International Ferrites
 
 -Wins PHDCCI Good Corporate Citizen Award for the year 2002
 
 -LIC holds 14.31% stake in the company
 
 2003
 
 -Govt. of Singapore cuts down its holding in the company from 4.23%
 to 2.96%
 
 -Sells 19.5% stake in Bridgestone ACC India to Bridgestone
 Corporation, Japan for Rs 50 crore
 
 -Increases stake in its subsidiary Eternit Everest India from 26 per
 cent to 76 per cent by acquiring the shareholding of Belgium-based
 Etex group. The name of Eternit Everest India rechristened Everest
 Industries Ltd.
 
 -Bids for Idcol Cement of Industrial Development Corporation of
 Orissa (Idcol), where the Government of Orissa hold 87% and remaining
 owned by UTI
 
 -Special court decides not to auction  ACC shares held by Harshad
 Mehta
 
 -Foreign Institutional Investors (FII) increase holding in the
 company from 18% to 22% in two months
 
 -ACC on December 22, 2003 has signed a share purchase agreement with
 Industrial Development Corporation of Orissa Ltd to acquire its
 entire shareholding in IDCOL Cement Ltd (ICL) amounting to 86.79% of
 ICL's equity share capital. Earlier this month, the State's Cabinet
 Committee on Disinvestment had approved the sale of IDCOL Cement Ltd
 to ACC as announced by the Department of Public Enterprise,
 Government of Orissa.
 
 2004
 
 -Associated Ceramics Ltd has informed that at the meeting of the BoD
 held on January 31, 2004, the Board approved voluntary delisting of
 shares from Calcutta Stock Exchange Association Ltd and Hyderabad
 Stock Exchange Ltd.
 
 -launches 0m GDR, FCCBs
 
 -ties up with UTI MF  to buy out their entire 13.3 per cent
 shareholding in Bargarh Cement (formerly Idcol Cement) for a total
 consideration of Rs 26.85 crore.
 
 
 -Associated Cement Companies (ACC) has purchased 13.21 per cent stake
 in Bargarh Cement Ltd from Unit Trust of India. ACC bought 3.5 crore
 shares of the nominal value of Rs 10 each in the company, for a
 consideration of Rs 26.85 crore. With this, Bargarh Cement becomes a
 100 per cent subsidiary of ACC.
 
 -Citigroup purchases 8.06 lakh GDRs of ACC
 
 - ACC Ltd appoints Naresh and Varshitha as Addl Directors
 
 -Delist from Cochin Stock Exchange
 
 -Delist from Delhi Stock Exchange with effect from October 13, 2004.
 
 -ACC enters into BTA with ACE Refractories