UltraTech set to acquire Century Textiles' cement business

UltraTech set to acquire Century Textiles' cement business
21 May 2018

UltraTech has announced plans to acquire the cement sector of Century Textiles through a share swap deal, which will further strengthen its presence in the eastern and central markets of India.

The deal is expected to be completed within 6-9 months following regulatory approval and will increase the efficiency of the company.

"The operations will be bolstered by economies of scale arising out of synergies in procurement and logistics costs; creation of efficiencies by reducing time to market, enhancing competitiveness as well as customer service," said UltraTech in a statement.

Other benefits include ready-to-use assets with a strong distribution network, according to the producer.

Century Textiles has a total capacity of 11.4Mta from three integrated cement plants located in Madhya Pradesh, Chhattisgarh and Maharashtra. Alongside this, the company operates a 2Mta grinding unit in West Bengal.

Published under Cement News