- 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
- 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
- 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
- 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.
- 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.
- With the acquisition of 2,86,000 shares during the year, AVB became
a subsidiary of the Company.
- 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.
- 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.
- 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.
- 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.
- 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
- 6,64,623 Bonus Equity shares issued in prop. 1:5.
- 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.
- 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.
- 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.
- 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.
- 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
- 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.
- 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
- 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
- 22,38,202 Bonus Equity shares issued in November in prop. 2:5.
- 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.
- 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.
- The new 1.2 MTPA clinkering unit at Kymore and the cement grinding,
packing and loading plant at Kymore was modernized and made
- 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
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
- 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).
- 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
- 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.
- 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.
- 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.
- 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
- 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
- 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
- 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.
- 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
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
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
- The Company proposes to exit from its non-core businesses.
- 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,
- 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,
-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
-Receives full consideration for sale of equity shares in
-Wins PHDCCI Good Corporate Citizen Award for the year 2002
-LIC holds 14.31% stake in the company
-Govt. of Singapore cuts down its holding in the company from 4.23%
-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
-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
-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.
-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
-ACC receives the CFBP Jamnalal Bajaj Uchit Vyavahar Puraskar
Certificate of Merit – 2004 from Council For Fair Business
- Holcim group of Switzerland enters strategic alliance with Ambuja
Group by acquiring a majority stake in Ambuja Cements India Ltd.
(ACIL) which at the time held 13.8 % of the total equity shares in
ACC. Holcim simultaneously makes an open offer to ACC shareholders,
through Holdcem Cement Pvt. Limited and ACIL, to acquire a majority
shareholding in ACC. Pursuant to the open offer, ACIL’s shareholding
in ACC increases to 34.69 % of the Equity share capital of ACC.
- Commissioning of Modernisation and Expansion project at Chaibasa in
Jharkhand, replacing old wet process technology with a new 1.2 MTPA
clinkering unit, together with a captive power plant of 15 MW.
- Financial accounting year of the company changed to calendar year
-Subsidiary companies Damodhar Cement & Slag Limited, Bargarh Cement
Limited and Tarmac (India) Limited merged with ACC
- ACC announces new Workplace policy for HIV/AIDS
- Change of name to ACC Limited with effect from September 1, 2006
from The Associated Cement Companies Limited.
- ACC receives Good Corporate Citizen Award 2005-06 from Bombay
Chamber of Commerce and Industry
- New corporate brand identity and logo adopted from October 15,
- ACC establishes Anti Retroviral Treatment Centre for HIV/AIDS
patients at Wadi in Karnataka– the first ever such project by a
private sector company in India.
-Company has changed its name from Associated Cement Companies Ltd.
to ACC Ltd.
- ACC partners with Christian Medical College for treatment of
HIV/AIDS in Tamil Nadu
- Sumant Moolgaokar Technical Institute completes 50 years and
reopens with new curriculum
-Ready mixed concrete business hived off to a new subsidiary called
ACC Concrete Limited.
-ACC Cement Technology Institute formally inaugurated at Jamul on
-First Sustainable Development Report released on June 5.
- ACC wins CNBC-TV18 India Business Leader Award in the category
India Corporate Citizen of the year 2008
- Project Orchid launched to transform our Corporate Office, Cement
House into a green building.
- ACC received the Jamanalal Bajaj Uchit Vyavahar Puraskar of Council
for Fair Business Practices
- ACC is allotted coal blocks in Madhya Pradesh and West Bengal.
- ACC's new Grinding plant of capacity 1.60 million tonnes
inaugurated at Thondebhavi in Karnataka.
- Kudithini Cement Grinding Plant inaugurated in Karnataka on January
4, 2010 with a capacity of 1.1 MTPA of Portland Slag Cement.
- ACC acquires 100 percent of the financial equity of Encore Cements
& Additives Private Limited which is a slag grinding plant in
Vishakhapatnam in coastal Andhra Pradesh. This company became a
wholly-owned subsidiary of ACC in January 2010.
- ACC enters its platinum jubilee year - the first company in the
cement industry to achieve this status
- ACC receives FICCI Award for Outstanding Corporate Vision Triple
Impact Business Performance Social & Environmental Action &
Globalisation for 2009-10 - a unique award received for the first
-World's largest kiln installed at ACC Cement Plant, Wadi, Karnataka
with a capacity of 12,500 tonnes per day creating new landmarks for
- Central Control Room Building at ACC Chanda Plant, Maharashtra set
up as a Green building, the first of its kind in an industrial
- ACC Secretarial & Share processes received ISO 9001 - 2008
-ACC launches M-100 grade concrete especially designed for the
construction of high intensity towers
-Amalgamation of two subsidiary companies ACC Concrete and Encore
Cement & Additives with ACC Limited
- Board recommended a Final Dividend of Rs. 19 per equity share.
-ACC launches its first Waste Heat Recovery System (WHRS) at Gagal in
January 2014, marking an important step in energy conservation. The
WHRS harnesses waste heat from exhaust gases discharged in
manufacturing and converts it into useful electrical energy.
-ACC wins CII-ITC Sustainability Prize, the highest honour awarded by
CII ITC for 2013, as one of India's Most Sustainable Companies.
- Board recommended a Final Dividend of Rs. 19 per equity sahre.
-ACC launches a new cement blending unit in Padubidri village, Udupi
district, Karnataka with a blending capacity of 30,000 tonnes per
month of Portland Pozzolana Cement (PPC).
-ACC Ltd wins Gold Shield at the ICAI Awards for Excellence in
Financial Reporting 2013-2014
-ACC Ltd has restarted limestone mining at Bargarh in Odisha
-ACC has been recognized for Corporate Excellence wih the prestigious
CII-ITC Sustainability Award 2015