Cement News tagged under: Ambuja Cement
Ambuja Cement secures Maharashtra limestone resources10 July 2017, Published under Cement NewsAmbuja Cement has secured a limestone resources of 42Mt in the state of Maharashtra through an e-auction by the state government. The LafargeHolcim company participated in the e-auction for a limestone block for Nandgaon Ekodi Limestone Block in Chandrapur district at a final bid price of 125.05 per cent of value of mineral dispatched. |
ACC to consider merger with Ambuja Cement08 May 2017, Published under Cement NewsThe Board of Directors of ACC, at its meeting on Friday, decided to commence an evaluation of a potential merger with Ambuja Cement. Both Indian cement concerns are part of the LafargeHolcim group. The move is being considered "with a view to combine the strengths of both businesses so as to benefit all stakeholders," ACC said in a statement. A special committee of directors, of which the majority are independent directors, has been installed to commence the evaluation. "No decision ... |
Ambuja Compocem launched04 May 2017, Published under Cement NewsAmbuja Cement announced it has launched its composite cement, Ambuja Compocem, to the Indian markets of Bihar and Jharkhand. The LafargeHolcim company said in a statement that its Chhattisgarh facility has become is first cement plant in India to develop a composite cement after rigorous research over the last year and a half. The new offering is a combination of cement, flyash and slag. Speaking at the launch of the product, Ajay Kapur, MD and CEO of Ambuja Cement, said: "Ambuja Compocem... |
Ambuja Cement sees market improvements02 May 2017, Published under Cement NewsAmbuja Cement, part of the LafargeHolcim group, reported that improving sales volumes, combined with favourable pricing contributed to positive 1Q17 results despite rising costs. Cement sales volume and price realisation improved in each consecutive month of the 1Q17, backed by good cement demand compared to the corresponding period a year, leading to a 5.3 per cent increase in net sales to INR25.33bn (US$395m). “With demonetisation largely behind us, we are well placed to serve both ... |
After the monsoons01 March 2017, Published under Cement NewsWhile the demonetisation of the Indian economy has seen cement sales significantly drop, the country’s cement producers are waiting for the positive medium-term effects of good monsoons to kickstart an acceleration in demand growth. Ambuja Cement saw a 6.6 per cent YoY drop in Jul-Sep sales in 2016 Uncertainty has once again eclipsed the growth of India’s 420Mta cement sector. Good monsoon rains with uniform spread across India in the July-September period have taken a toll on c... |
India: Ambuja net profit leaps 85% in 4Q1621 February 2017, Published under Cement NewsLafargeHolcim-owned Ambuja Cement reported a 85.2 per cent rise in its consolidated net profit to INR2.057bn (US$30.7m) for the fourth quarter ended 30 December 2016 from INR1.11bn in 4Q15. Ambuja’s total income from operation almost doubled to INR49.362bn in the Oct-Dec quarter from INR23.843bn in the year-ago period, Ambuja said in a BSE filing. "During the year, Holcim India Pvt Ltd has been amalgamated with the company from the effective date August 12, 2016 pursuant to scheme of ... |
India prepares for the upturn03 October 2016, Published under Cement NewsAfter a strong first quarter, India’s cement demand experienced a setback in April and May. However, monsoon preparations helped the market recover in the following month and the outlook following a good monsoon is positive. Share prices of all Indian cement majors are hitting an all-time high on the stock exchanges, including Mumbai (pictured) as demand for cement looks set to grow by 6-7 per cent in 2016 [Copyright: Big Rolo Images] Following strong growth in the Jan-Mar... |
India: reason for optimism?17 August 2016, Published under Cement NewsThe first quarter of 2016 provided some basis for optimism for India’s cement producers as the sector reported double-digit expansion. However, in the months ahead, the monsoon season and the perennial overcapacity of the industry continue to haunt profitability. The amendment of The Mines and Minerals (Development and Regulation) Act is expected to facilitate M&A in the cement sector The first quarter of 2016 has seen India’s cement industry make a positive start to the year... |
LafargeHolcim India head joins Executive Committee09 August 2016, Published under Cement NewsLafargeHolcim made the decision to induct Head of LafargeHolcim India, Martin Kreigner, into the Executive Committee of the group, giving him additional responsibilities in southeast Asia. Mr Kreigner will be based out of Mumbai. These recent changes to the executive committee reflect the group and its portfolio’s evolution following divestments and integration, LafargeHolcim said in in a statement. The restructuring of operations reveals the growing importance of Indian business. Lafa... |
LafargeHolcim02 August 2016, Published under Cement NewsLafargeHolcim has agreed to sell Lafarge India to the Indian conglomerate Nirma Ltd for around US$1400m. It will be Nirma’s first investment in the cement sector and comes in spite of a marginally higher offer from a Chinese cement producer. The deal involves three cement works and two grinding centres with a combined capacity of some 11Mt and is also one of the largest ready-mixed concrete producers in India. The disposal of some cement operations were demanded by the competition authoritie... |