Indorama Cement Ltd and HeidelbergCement India Private Ltd have decided to merge with Mysore Cement Ltd.

The boards of the three companies sanctioned the plan at their separate respective board meetings held on Friday at Gurgaon, Haryana.

Mr. Ashish Guha, Managing Director of Mysore Cement will head the merged entity.

Mr. Guha also said that the planned merger will attain greater synergies and perk up managerial efficiencies. He said that the combined capacity of the merged entity will be nearly 2.8 million tonnes.

For the quarter ended in March 2008, Mysore Cement Ltd has recorded a 17.02% growth in net profits to Rs 372.11 million, as against Rs 317.99 million for the quarter ended in March 2007.

Net Sales for the same period climbed 24.81% to Rs 1814.63 million for the quarter ended March 2008 from Rs 1453.95 million for the quarter ended March 2007.

Mysore Cement Limited is a subsidiary of Cementrum I. B.V. ( a Company incorporated under the laws of The Netherlands, which is 100% controlled by Heidelberg Cement AG).

HeidelbergCement, with its core products being cement, ready mixed concrete, aggregates and related activities, is one of the leading producers of building materials worldwide, and it employs around 46,000 people in more than 50 Countries.

Shares of Mysore Cement Ltd, on Friday (9 May) declined 2.66%, to settle at Rs 356.6 on the Bombay Stock Exchange (BSE). The total volume of shares traded was 172.238 shares.