Cement News tagged under: ACC
Ambuja Cements and ACC lead the way on water positivity30 November 2022, Published under Cement NewsAmbuja Cements and ACC are leading the way in water positivity, according to a report in Business Standard. Over the last 20 years both companies have put initiatives in place to not only address water conservation in their production processes but also tackle water scarcity across India. Globally, Ambuja Cements is the only cement producer that has been recognised for its leadership in water security in CDP 2021 with the best ‘A’ score, while both companies have scooped numerous awar... |
Cement sector fuels Indian M&A record21 October 2022, Published under Cement NewsAdani Group ’s acquisition of Ambuja Cements and ACC has contributed to a new record in merger and acquisition (M&A) activity in India. According to data by Refinitiv, the value of M&A deals in India has risen by 58 per cent YoY to US$158bn in the first nine months of 2022, coming in higher than the full-year total in both 2018 and 2021. The nine-month period saw 1795 M&A deals being struck, up 21 per cent YoY, marking another record according to Mint. Analysts believe India could soon ... |
Indian profits forecast to decline14 October 2022, Published under Cement NewsIndia’s cement producers are expected to report a decline in profits for the July-September 2022 quarter, according to Mumbai-based brokerage house KR Choksey. The brokerage predicts poor results in the short-term as the industry sees a wave of consolidation taking place, along with huge capital expenditure plans announced by the industry’s leading players. KR Choksey predicts a 19.2 per cent YoY fall in net profit for UltraTech in the 2QFY22-23 with the QoQ picture showing a 33 per ... |
Adani in talks to acquire Jaiprakash cement unit10 October 2022, Published under Cement NewsAdani Group is in advanced talks to acquire the cement unit of Jaiprakash Power Ventures Ltd, part of Jaiprakash Associates Ltd, according to Mint. The group is expected to pay around INR50bn (US$607m) for a 2Mta grinding unit in Nigrie, Madhya Pradesh, along with other smaller assets. The deal will not only help lower debt for Jaiprakash Power Ventures Ltd but also solidify Adani’s place in the cement industry, having already acquired Ambuja Cements Ltd and ACC Ltd from Holcim fo... |
Adani Group announces US$100bn investment plan29 September 2022, Published under Cement NewsThe Adani Group plans to invest US$100bn over the next decade, according to its owner Gautam Adani. The group’s most recent investment was its US$6.5bn acquisition of Ambuja Cements Ltd and ACC Ltd , instantly making it the second-largest cement producer in India. Around 70 per cent of the planned US$100bn investment is destined for the energy transition market, along with defence, metals and petrochemicals, reports Mint. "As a group, we will invest over US$100bn of capital in the nex... |
Adani Group to double cement production capacity20 September 2022, Published under Cement NewsThe Adani Group plans to double its cement production capacity over the next five years, according to Gautam Adani, group chairman. Speaking at an event in Mumbai to mark the closure of Adani Group’s acquisition of Holcim ’s stakes in Ambuja Cements and ACC Ltd , Mr Adani said that he expects capacity to go from the current 70Mta to 140Mta over the course of the next five years. “While India is the second largest producer of cement in the world, our per capita consumption is just 25... |
Holcim closes sale of India business16 September 2022, Published under Cement NewsHolcim has closed the sale of its business in India to the Adani Group. The deal includes Holcim’s stake in Ambuja Cement at a share price of INR385 (US$4.82) and in ACC at a share price of INR2300, resulting in cash proceeds for Holcim of US$6.4bn, according to Dow Jones. Holcim held a 63.11 per cent stake in Ambuja Cement, which owns 50.05 per cent of ACC, along with a 4.48 per cent direct stake in ACC. Jan Jenisch, CEO, Holcim, said, “I would like to thank our 10,700 Indian coll... |
Adani plans management shake-up following takeover12 September 2022, Published under Cement NewsGautam Adani, his son Karan and his nephew Pranav, are expected to join the management boards of ACC Ltd and Ambuja Cements . As part of an overhaul of the top management of both companies, following their takeover by the Adani Group , some existing members of the boards are expected to step down, including the following board members at Ambuja Cements: N S Sekhsaria, chairman, Jan Jenisch, vice chairman, Neeraj Akhoury, managing director and CEO, and Martin Kriegner, director – one sour... |
Morgan Stanley invests in ACC05 September 2022, Published under Cement NewsMorgan Stanley has bought a stake in Indian cement producer ACC Ltd. According to Mint, Morgan Stanley Asia (Singapore) has purchased 941,557 ACC shares at INR2290 each, marking an investment of INR2156m (US$26.9m). The deal was made through an open market transaction on 2 September 2022. |
CCI approves Adani acquisition of Ambuja and ACC stakes16 August 2022, Published under Cement NewsThe Competition Commission of India (CCI) has approved the acquisition of Holcim ’s stake in Ambuja Cements Ltd and its subsidiary ACC Ltd by the Adani Group. The deal, which was initially entered into by Adani in May this year, will propel the group to become India’s second-largest cement producer. Holcim currently holds a 63.11 per cent share in Ambuja Cements and a 4.48 per cent share in ACC. Furthermore, Ambuja holds a 50.05 per cent stake in ACC. The acquisition will b... |