Business

ACC vows to focus on health, costs and cash

Liquidity comfortable, says cement firm

Cement major ACC Ltd. has committed to business continuity despite the adverse impact of the COVID-19 pandemic. Under the current circumstances, the company said, it would focus on health, costs and cash.

“ACC is a debt-free company and has sufficient cash reserves to meet its financial obligations, with a comfortable liquidity position,” ACC said in a statement after its 84th annual general meeting held via videoconferencing.

“To mitigate the impact of the pandemic, ACC has executed a robust business continuity plan focused on health, cost and cash. Currently, all ACC plants and grinding units are operating while continuing to maintain strict health and safety protocols,” it said.

Meanwhile, the shareholders approved the appointment of Sridhar Balakrishnan as MD and CEO for a period of five years.

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Printable version | Aug 4, 2020 5:17:41 PM | https://www.thehindu.com/business/acc-vows-to-focus-on-health-costs-and-cash/article32015763.ece

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