Cement News tagged under: Aditya Birla Group

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UltraTech MD to step down in December

10 September 2019, Published under Cement News

Krishna Kishore Maheshwari will be appointed as UltraTech's first non-executive vice chairman as he retires from his managing director role on 31 December this year. Kailash Chandra Jhanwar, currently deputy managing director and chief manufacturing officer, will succeed Mr Maheshwari as MD after this date. Before serving three years as MD at UltraTech, Mr Maheshwari was the managing director at Grasim. He is also a director for Aditya Birla Management Corp, a corporate body which provide...

Aditya Birla Group announces US$5bn capex plan

29 October 2018, Published under Cement News

India's Aditya Birla Group, parent of UltraTech Cement, has announced US$5bn capex plans over the next three years for its businesses both in the domestic market and abroad. "Our capex plans over the next three years is about US$5bn across our businesses both in the country as well as in the US. Aleris, which Novelis is acquiring, is also another aluminium rolled product player, will attract around US$3bn of this projected capex," said Kumar Mangalam Birla, group chairman, at The Economist...

Khamarnaugaon plant idea opposed by villagers

12 October 2017, Published under Cement News

Aditya Birla's proposed UltraTech cement plant at Khamarnuagaon under Cuttack district’s Athagarh block has witnessed protests by locals despite obtaining required 90 acres from the government to start plant there. Villagers of Gurudijhatia and Khamarnuagaon alleged that they would lose almost all grazing fields for cattle if a cement plant was built in the area.

India: UltraTech to complete Jaypee acquisition ‘in next 12 months’

20 July 2016, Published under Cement News

Birla Group chairman, Kumar Mangalam Birla, told his firm's annual general meeting that its UltraTech Cement subsidiary should complete its acquisition of Jaypee Cement within the next 12 months, the Economic Times reports. The deal, which will see UltraTech acquire cement production capacity of 21.2Mta, was agreed earlier this month, despite efforts from Jaypee’s creditors that saw them convert debt into equity. On completion, UltraTech – already India’s largest producer – will contro...

UltraTech profits rise 10% in 1Q16, operational costs cut

26 April 2016, Published under Cement News

UltraTech Cement, India reported a 10 per cent YoY rise in consolidated profit after tax for the quarter ended March. The company reported a consolidated net profit of INR7230m (US$108.52m) against 6750m (US$98.63m) in the same period last year, due to a strong operational performance. Net sales in the same period rose 5 per cent to INR68.5bn, from INR65.17bn a year earlier. Total cement demand for the quarter, the company said, grew by 15 per cent.  "The operating costs reduced with oper...

Aditya Birla Group bids for Lafarge, Holcim units

22 October 2014, Published under Cement News

India's Aditya Birla Group submitted bids on Monday to buy Holcim and Lafarge assets. UltraTech Cement and other Aditya Birla Group companies have put in bids for Lafarge and Holcim plants in Brazil and the Philippines, valued at US$1.4bn. The group had started operations in the Philippines several years ago and earmarked Brazil as a key place for expansion three years ago. "Aditya Birla group will be unable to bid for assets carved out of the Lafarge-Holcim merger in some of the mark...

UltraTech Cement given go-ahead for two new plants

29 September 2014, Published under Cement News

UltraTech Cement Ltd’s (Aditya Birla Group) proposal to set up two greenfield cement plants with an installed capacity of 9.5Mta has been cleared by Andhra Pradesh government. These two plants of a similar size have been proposed to be set up at Dachepalli of Guntur district and at Pentikota of Kurnool district by the company. The company, which has a total installed capacity of 62Mta across about 21 plants in India, currently operates a 4.9Mta capacity plant at Tadipatri in Anantapu...

Jaypee/Aditya Birla talks advance, India

10 December 2012, Published under Cement News

Talks between the Jaypee Group for its sale of its Gujarat based cement units to Aditya Birla have moved into the final stages, according to local media reports, adding that valuations of the deal have continued to put hurdles in the way of the deal. Reports that the Birla group have been negotiating for the price Jaypee Gujarat cement units and if the deal proceeds they may end up paying around US$800m. It said that the Birlas have offered US$160/t of capacity, much lower than the US$200/t...

Aditya Birla resumes talks with Jaypee over cement assets – report

17 October 2012, Published under Cement News

The Aditya Birla Group has restarted negotiations with Jaikprakash Associate’s to buy out its Jaypee Cement Corp plants in Gujarat and Andhra Pradesh, the Economic Times (ET) of India reports. Birla is understood to have made an offer of up to US$130/t to acquire cement assets with a total capacity of 9.8Mt, two sources close to the negotiations said. Talks between the two companies fell through in July this year due to differences over valuations, the ET noted. Last week, CRH said neg...

Lafarge, UltraTech eye Jaiprakash units, India

15 June 2012, Published under Cement News

Aditya Birla Group and Lafarge are separately in talks to buy Jaiprakash Associates cement units, the Economic Times reported on Friday. Officials from Lafarge and the Aditya Birla Group-controlled UltraTech Cement Ltd, Indias biggest cement producer, have completed preliminary talks and final bids are expected shortly, the newspaper said, citing sources with knowledge of the development. Jaiprakash has spun off its cement units in the western state of Gujarat and southern state of And...