ACC, a 30 million tonne cement player and part of the LafargeHolcim group of companies, has said that the cement industry will see a turnaround in 2016. The company?s CEO & MD Harish Badami said: ?The upside of the cement cycle has started and volumes have certainly picked up. I think the industry will grow by 6-7 per cent in 2016 against 1.5-2 per cent last year.?
Pricing has been a significant challenge for the industry and ACC did not remain untouched. It was hit by decline in sales and profitability.
However, the company is hopeful that the sector is fast coming out of a long lull period.