Cement News tagged under: india
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... |
Gujarat Sidhee Cement temporarily suspends clinker unit13 September 2022, Published under Cement NewsThe clinker unit at Gujarat Sidhee Cement Ltd’ s plant in Sidheegram , Gujarat, Inda, will be temporarily shutdown. The stoppage began on 11 September 2022 and will last for 20 days. No reason has been given for the suspension. |
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... |
Indian cement prices forecast to rise12 September 2022, Published under Cement NewsCement companies in eastern India are expected to raise their cement prices in mid-September, according to the Financial Express. Other regions across the country are forecast to follow suit in early October as the monsoon season comes to an end and construction activity resumes. Cement producers have already increased prices by INR15-20/bag (US$018-0.25/bag), an uptick of 4-4.5 per cent MoM, in eastern and western India in the early part of September, but a further rise of INR15/bag is pred... |
KHD secures biggest UltraTech order to date12 September 2022, Published under Cement NewsKHD Humboldt India Pvt Ltd has won a major new order from UltraTech Cement ( Aditya Bila Group ). The package of contracts comprises two complete pyro-processing lines and eight grinding units. CemNet previously announced limited information on this new order in August 2022. KHD has now clarified that it signed contracts to supply 10 production processes, including two complete pyro lines at Kotputli in the northern state of Rajasthan, and at Maihar in Madhya Pradesh in central... |
The Ramco Cements Ltd scoops award for Alathiyur plant08 September 2022, Published under Cement NewsThe Ramco Cements Ltd has announced that its Alathiyur plant has been awarded “Gold Medal” in the India Green Manufacturing Challenge 2021-22 by The International Research Institute for Manufacturing (IRIM), India. The award recognises manufacturing firms that have shown consistent progress in improving sustainability factors at a given production facility. Established in 1997, the Alathiyur plant is located in Ariyalur District, Tamil Nadu. It began operations with 0.9Mta capacity b... |
Adani Group scouts for M&A chief08 September 2022, Published under Cement NewsThe Adani Group is looking to recruit a new chief of mergers and acquisitions, replacing Vinod Bahety, who is moving to a new role within the company. According to Financial Express Online, so far this year the Adani Group has agreed to buy Holcim’s cement business in India in a US$10.5bn deal, has promised to invest US$70bn in green energy, and recently launched a hostile takeover of New Delhi Television Ltd. Owner Gautam Adani has been named as the world’s third-richest person, beh... |
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. |
Adani Enterprises replaces Shree Cement in Nifty50 on NSE02 September 2022, Published under Cement NewsAdani Enterprises is to be included in the headline index Nifty50 on the National Stock Exchange of India (NSE) from 30 September 2022, replacing Shree Cement . According to The Economic Times, shares in Adani Enterprises have rallied over 88 per cent so far this year, taking its market capitalisation to INR3680bn (US$46,127m). After Adani Ports, this is the second stock from Gautam Adani to be included in the Nifty. Meanwhile, shares in Shree Cement have fallen by almost 21 per cent s... |
UltraTech commissions 1.3Mta Dalla expansion31 August 2022, Published under Cement NewsUltraTech Cement Ltd announced the commissioning of the 1.3Mta expansion to its Dalla Cement Works in Uttar Pradesh, India. As a result, the plant’s cement capacity is now 1.8Mta and the company’s total capacity in India is 115.85Mta. |