Magicrete Launches AAC In Acetech-2009 - November 5 2009
Magicrete Building Solutions launches Aerated Autoclaved Concrete (AAC), an eco-friendly and cost effective substitute of traditional clay bricks at affordable prices in the Indian market during "Economic Times Acetech 2009". Acetech is the largest building material exhibition in the country where most of the leading players in building materials participate with their latest offerings. Magicrete commenced commercial production in June, 2009 and already supplies AAC blocks in the Western part of India. More than 1,000 visitors visited the Magicrete exhibition stall during the three day event where the Company demonstrated the features and benefits of the product. Some of the leading stalwarts of the real estate industry like Mr. Surendra Hiranandani, Founder of Hiranandan Construction Group, lauded the efforts by the Company in the introduction of innovative building materials for the construction industry.
Magicrete Recognized In The Top 50 Companies In Economic Times-Leaders Of Tomorrow Awards 2012
Economic Times in partnership with IndiaMart organized "Economic Times Leaders of Tomorrow 2012" to identify and award fast growing small and medium sized enterprise in the country which have the potential to become large enterprises in the future. Magicrete Building Solutions, a leading player in the innovative building materials, was part of the top 50 companies selected in India from a list of over 5,000 companies. This demonstrates the robustness of the business model of the company and recognizes the efforts of the young team leading the company.
Motilal PE Invests Rs 35 Crore In Concrete Block Maker Magicrete
MUMBAI:Brokerage house Motilal Oswal's private equity arm today said it has invested Rs 35 crore in Magicrete Building Solutions, a concrete blocks maker.
Magicrete, incorporated in 2008, is the second largest manufacturer of autoclave aerated concrete (AAC) blocks and recently forayed into offering gypsum plaster and dry mortar, Motilal OswalBSE -1.10 % Private Equity (MOPE) said.
However, it did not specify the percentage of stake it will be taking in Magicrete.The statement said the company is aiming to become the largest manufacturer in its field by the end of the next financial year.
"This investment will help institutionalise our business, accelerate our growth and enhance our brand with all stakeholders," MOPE Managing Director Sourabh Bansal said.The MOPE investment has been done through the India Business Excellence Fund II and India Business Excellence Fund IIA it manages, the statement said.
Magicrete Successfully Commissions The Largest AAC Facility In A Single Location - June 27 2012
Magicrete Building Solutions today successfully completed the expansion of its Aerated Autoclaved Concrete (AAC) manufacturing facility to 400,000 cubic meters from the initial capacity of 150,000 cubic meters in 2009. The production facility is located in Navsari (near Surat) and supplies AAC blocks and panels to all the major construction markets in the Western part of India. With the completion of this expansion, Magicrete now has the largest AAC production facility at a single location in India. Magicrete is also rated among the top three manufacturers of AAC in the country. The Company continues to place strong emphasis on product quality and believes in continuous innovation to meet the requirements of it esteemed customers.
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