Holding of prices to hurt margins: ACC

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New Delhi, May 9 (UNI) Country's leading cement maker ACC Ltd today said its margins will be hurt by a decision to hold its prices for 2-3 months that was taken after the government asked the cement firms to help contain price pressures.

''This price freeze will erode the company's margins,'' ACC Managing Director Sumit Banerjee said in a statement.

He added that the company was taking all steps to maintain production at peak levels.

ACC, in which Swiss cement maker Holcim has about 41 per cent stake, also said it will talk to the government to explore viable solutions to combat inflationary trends that have led to increase in input costs.

Minister of State for Industry Ashwani Kumar had, on Thursday, said the government has got assurances from the cement firms on price cuts and that a request for tax relief to cement manufacturers has been submitted to the Finance Ministry.


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