India's ACC buys stake in grinding unit

MUMBAI, Jan 29 (Reuters) - Indian cement maker ACC said on Friday it had acquired the entire stake in Encore Cement & Additives Pvt Ltd, which owns a 200,000 tonne slag grinding unit in south India.

The acquisition will help strengthen ACC's presence in coastal Andhra Pradesh, it said in a statement.

Financial details were not immediately available.

ACC is 46-percent owned by Swiss cement major Holcim .

(Reporting by Prashant Mehra)

(([e-mail]; [phone]; Reuters Messaging: [e-mail])) Keywords: ENCORE ACC/ (If you have a query or comment on this story, send an email to [e-mail]) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.