Financial Daily from THE HINDU group of publications
Tuesday, Jan 31, 2006
Financial Daily from THE HINDU group of publications Tuesday, Jan 31, 2006 |
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Cement Corporate - Performance ACC — after Holcim is in Our Bureau
Mumbai , Jan. 30 IT was last January that Holcim announced its acquisition of the hoary ACC Ltd, which has some of the oldest plants in the country and arguably the largest workforce in the cement industry. Although Holcim has been particular that the management be preserved and the employees protected as well, changes are being introduced at ACC on several fronts. For one, the financial year that the company observes has been changed from April-March to January-December. The board changes have already happened, with Mr Narotam Sekhsaria, founder-promoter of Gujarat Ambuja now appointed as Chairman at ACC, and Mr Paul Hugentobler of Holcim as Deputy Chairman. In all, there are two representatives of Holcim on the board of ACC. There is also understood to be an "alignment of ACC's financial systems" to Holcim's accounting systems and principles. The company will now be gradually moving towards reporting accounts as per Holcim's system. With Holcim following the enterprise resource planning software platform of SAP, ACC is also following suit. SAP is under implementation already, and related productivity enhancements and efficiencies are expected to follow. One of the first introductions to be made by Holcim at ACC was the setting up of the Alternative Fuel and Resources team. At present, there is a core team that will identify opportunities in alternative fuels and sources of energy, this department will be expanded as its activities too expand. With rising fuel costs a concern for the industry as a whole, sourcing cheap fuel will be an increasing preoccupation for the industry. Then, of course, there is a continuous exchange of visiting teams for projects.
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