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Our Bureau

Mumbai , Dec. 14

THE Associated Cement Companies Ltd has acquired a 98.84-per cent stake in Tarmac India Pvt Ltd at a cost of Rs 12.40 crore.

Tarmac India has two ready-mix concrete (RMC) plants in Mumbai that will increase ACC's RMC capacity by 7-8 per cent, said Mr A.K. Jain, Executive Director, ACC.

The ready mix concrete business is growing at 30-35 per cent year-on-year, he said.

Tarmac India was a subsidiary of Tarmac, UK, which is part of the Anglo American plc group, said an ACC statement. Its acquisition is with immediate effect and is on "going concern" basis.

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