Cement News tagged under: ACC
ACC and Ambuja post diverging results, India25 April 2014, Published under Cement NewsHolcim’s two Indian interests have posted contrasting results for the first quarter of 2014, with ACC’s profit down nine per cent while Ambuja Cement’s net climbs 6.6 per cent. Ambuja Cements reported a net profit of INR5.20bn (US$85.2m) for the first quarter ended March 31, compared with INR4.88bn a year earlier. Sales volume increased two per cent to 6.06Mt. Ambuja's net profit was helped after other income rose by 53.2 per cent to INR1.32bn from a year earlier, according to a company... |
Ambuja gets nod for merger with Holcim India27 March 2014, Published under Cement NewsThe High Courts of New Delhi and Gujarat have given Ambuja Cements the green light to merge with Holcim India – paving the way for the ACC-Ambuja restructuring process announced by the parent company in July last year. In a two stage deal, Ambuja will first acquire, through a purchase, a 24 per cent stake in Holcim India for a cash consideration of INR35,000m (US$~600m), followed by a stock merger between Holcim India and Ambuja. |
India: ACC lined up to buy into two cement joint ventures24 March 2014, Published under Cement NewsACC (Holcim) is likely to buy Jaypee Group 74 per cent stake in two separate cement joint ventures with state-owned steel maker Steel Authority of India Ltd, according to the Business Standard. The two joint ventures are located at Bhilai (Chhattisgarh) and Bokaro (Jharkhand) with a total capacity of just over 4Mta. Jaypee Group has been struggling with debts and has been in talks with ACC to hive off some assets. In a BSE filing, Jaypee Group said its Board would meet "to consider stake ... |
ACC inaugurates blended cement facility, India11 February 2014, Published under Cement NewsACC has inaugurated a blended cement plant at Padubidri in Udupi district in the Karnataka state of India. The unit will use fly ash from Udupi Power Corporation’s thermal power plant in Udupi, PN Iyer, chief executive (South) of ACC Ltd, told those in attendance. Clinker from ACC’s plant at Wadi in Gulbarga district will be used for the production of blended cement. The new facility has a capacity of 30,000t per month and will cater for the cement requirements in coastal Karnataka and Ke... |
Industry appointments at Ambuja and ACC06 December 2013, Published under Cement NewsThe Holcim Group has appointed Bernard Trever has an additional director on the board of Ambuja Cements Ltd. Mr Trever has over 35 years of experience in the cement business and has been part of Holcim Ltd since 1994 where he has held senior positions including that of Chief Executive Officer of Holcim Colombia and Holcim US. Meanwhile, ACC's chief executive and managing director Kuldip Kaura has received a one-year extension in his current position till December, 2014. "We wish to inform ... |
India: Ambuja wins approval for Holcim restructuring22 November 2013, Published under Cement NewsAmbuja Cements Ltd announced on Thursday that it had received shareholders' approval to buy a 24 per cent stake in Holcim (India) Pvt. Ltd from Holderind International for INR350,000m (US$556m) as well as the amalgamation of Holcim (India). The restructuring has been criticised by some investors and local shareholder-advisory firms for favouring the parent. Another round of voting will take place at Ambuja Cements' extraordinary general meeting (EGM) at Gir Somnath in Gujarat, as well as a... |
ACC and Ambuja see slow return to growth24 October 2013, Published under Cement NewsACC and Ambuja Cements, both part of Holcim, have reported a decline in quarterly sales due to subdued demand and lower cement prices, and expect a slow return to growth as near term challenges persist. Net profit at ACC, India's second-largest cement maker, halved to INR1.21bn in the July-September quarter. Net sales rose three percent to INR25.1bn. The company expects "gradual but slow improvement in demand.” Ambuja posted a 45 per cent fall in net profit to INR1.66bn for the quarter ... |
ACC plans West Bengal grinding plant, India04 September 2013, Published under Cement NewsACC Ltd plans to boost its cement capacity in eastern India through the construction of a new grinding plant in West Bengal, as well as expansion of two existing facilities. Vivek Chawla, Chief Executive of East, ACC Ltd, told Business Line that the company plans to expand its capacity in the East by 4Mta to 10Mt over the next three years, financed through internal accrual. The new 1.5Mta grinding plant will be established in Kharagpur, West Bengal, and construction is due to start in ... |
Holcim streamlines Indian operations25 July 2013, Published under Cement NewsHolcim is to increase its shareholding in Ambuja Cements as part of the Swiss major's strategy to restructure and streamline its operations in India. Through intragroup restructuring, Holcim will increase its shareholding in Ambuja Cements to 61.39 per cent and Ambuja in turn will acquire Holcim’s 50.01 per cent stake in ACC Ltd. Both Ambuja and ACC will continue to operate as separate entities with their own brands and go-to-market strategies. Holcim said the restructuring “will allow for... |
Shiva Cement to raise capacity by 1Mta08 July 2013, Published under Cement NewsShiva Cement, in which ACC Ltd holds a 12.65 per cent stake, plans to increase capacity by 1Mta at its cement plant in Odisha on the east coast of India. The company currently has a capacity of 0.132Mta at the works in Rourkela and plans to invest INR270 crore to raise its volumes. RP Gupta, chairman and managing director of Shiva Cement, said the project is expected to be completed by the first half of 2015 with plans for a further increase also in the pipeline. |