ACC freezes cement prices

May 9th, 2008 - 2:04 pm ICT by admin  

Mumbai May 9 (IANS) India’s leading cement manufacturing firm Associated Cement Companies (ACC) has decided to freeze prices for the next two to three months. The Mumbai-headquartered firm said Friday that the move comes following the central government’s concern over the spiralling rise in cement prices across the country.

The company said that despite the price freeze, it would not bring down its production levels; instead steps have been taken “to ensure that production is maintained at peak levels at all of its plants and improve operational efficiencies”.

The company admitted that the “price freeze will erode the company’s margins”.

It said it had already initiated an open dialogue with the government “to explore viable solutions to combat inflationary trends that have disproportionately increased its input costs”.

Tags: , , , , , , , , , , , , , ,

Posted in Business |