UltraTech director elected as new CMA president

UltraTech director elected as new CMA president

Mr OP Puranmalka, Ultratech Cements whole-time director, has been elected as the new president of the Cement Manufacturers' Association (CMA) of India for the 2013-14 term.

Mr Puranmalka will replace MAMR Muthiah of Chettinad Cement, CMA said in a release today.

JK Lakshmi Cement whole-time director, Shailendra Chouksey, has been elected as the Vice-President of the 51-year old industry body.

Speaking at the CMA's 52nd AGM, Mr Puranmalka raised concerns over the lag in the industry, which has been seeing excess capacity of about 100Mt.

“The slowdown in the economy, including dried up investments in infrastructure, has adversely impacted the cement industry and its capacity utilisation. Aggressive efforts need to be undertaken to catalyse the industry,” Business Line India quoted Mr Puranmalka as saying.

The CMA expects demand to rise by 8-9 per cent over the next year, taking estimated cement consumption in 2013-14 fiscal to about 280-285Mta, from around 260Mt in 2012-13 fiscal.