Cement News tagged under: UltraTech
India: cement volume growth09 June 2016, Published under Cement NewsVolume growth in the Indian cement market increased by 12-18 per cent in the quarter ending March 2016 compared to the 4.7 per cent drop seen in the corresponding quarter last year. This level of growth is the largest seen in the last six quarters, and the only growth to reach double digits, as reported by The Economic Times, India. Due to lower petcoke and coal prices the cost of producing 1t of cement fell by 8.6 per cent to INR3517 (US$52.70) YoY. Medium and small companies in the c... |
India: Grasim and UltraTech well positioned for growth09 May 2016, Published under Cement NewsGrasim Industries, a subsidiary of UltraTech, has announced impressive results and signs of a recovery in cement demand growth, which is estimated at ~11.5 per cent for the current quarter. Meanwhile, UltraTech outpaced the industry with domestic volume growth of 15 per cent. Revenue for the quarter was INR69.2bn (US$bn1.04bn) vis-à-vis INR65.95bn (US$991m) in 4Q15. EBITDA was up by three per cent at INR14.78bn. helped by enhanced volumes and lower fuel prices. Net profit was INR7.23bn co... |
Jaypee Group’s cement assets up for grabs29 December 2015, Published under Cement NewsJaypee Group is planning for an outright sale of its 20Mt portfolio of cement assets worth an estimated INR190 (US$2.86bn) enterprise valuation. UltraTech, Dalmia Bharat backed by private equity investor KKR and Shree Cement have each been approached to take over Jaypee Group’s cement business. Other private equity firms are also reported to have been approached with a detailed information memorandum of operations. Jaypee Group, one of the top ten most indebted Indian conglomerates with a ... |
UltraTech Cement23 December 2015, Published under Cement NewsUltraTech Cement, along with 10 other companies, was given a reprieve earlier this month when a US$945m fine issued by the Competition Commission of India (CCI) for cartelisation was set aside by the Competition Appellate Tribunal. The original ruling, passed in 2012, was based on complaints by the Builders Association of India accusing the cement producers of colluding to limit production and manipulate cement prices. The tribunal has now requested that the CCI looks into the matter aga... |
UltraTech appoints K K Maheshwari as MD21 December 2015, Published under Cement NewsUltraTech Cement appoints K K Maheshwari as Managing Director and Additional Director for a period of four with effect from 1 April 2016. Mr Maheshwari is a chartered accountant with over 38 years of experience. He will succeed O P Puranmalka who will step down as MD on 31 March 2016. |
Jaiprakash reportedly in talks to sell Bhilai unit to UltraTech21 May 2015, Published under Cement NewsJaypee Group company Jaiprakash Associates is in talks with UltraTech Cement to sell its 2.2Mta cement plant in Bhilai, Chhattisgarh state, Business Standard report suggests. The Bhilai plant is a joint venture between Jaypee Group (74 per cent stake) and public sector Steel Authority of India (26 per cent). Sources say Ultratech will pay around INR2000 crore in a deal that would lift the company's overall capacity to 67Mta. When asked to comment by Business Standard, a Jaypee Group spokes... |
UltraTech Cement03 February 2015, Published under Cement NewsFollowing its acquisition last month of two cement plants and related power assets from Jaiprakesh Associaties Ltd in Madhya Pradesh, UltraTech Cement Ltd has announced further expansion plans including two greenfield grinding units in Bihar and West Bengal. The new plants, which will add 3.2Mta capacity, will enable UltraTech to take advantage of the predicted upturn in cement demand in India. According to the government, the combination of 5.5 per cent economic growth in 2015 and a kick... |
UltraTech Board approves Jaiprakash Associates MP acquisition24 December 2014, Published under Cement NewsThe Board of Directors of UltraTech have approved in principle the acquisition of the Madhya Pradesh assets of Jaiprakash Associates Ltd, which represents an entreprise value of INR54bn (US$852m). The acquisition includes an integrated cement plant with a clinker capacity of 2.1Mta and a cement capacity of 2.6Mta in Bela and an integrated unit at Sidhi with clinker and cement capacities of 3.1Mta and 2.3Mta, respectively. The deal also covers a 180MW thermal power plant complex of which 1... |
Cementos Argos23 December 2014, Published under Cement NewsCementos Argos has pulled out of the running for any Brazilian assets being sold off following the Lafarge/Holcim merger. According to Cementos Argos, any potential purchase would not “generate the value its investments would expect”. UltraTech Cement has reportedly also followed suit with the Brazilian economy being blamed by many for the u-turn. Brazil has seen its economy shrink by 0.9 per cent in 2Q14 and a further 0.25 per cent in the third quarter. Growth of around 1.4 per cent is p... |
UltraTech Cement20 December 2013, Published under Cement NewsUltraTech Cement, part of the Aditya Birla Group, has announced plans to set up two new cement plants in the northern Indian state of Uttarakhand. The plants will be located at Tyuni in the Dehradun district (3.5Mta) and Someshwar in the Almora district (2Mta). According to the company, the multi-phase investment will bring jobs to the area whilst also ensuring that the environment of the region is kept intact. A number of incentives have been put in place by the government to encourage inve... |