Cement News tagged under: Ambuja Cements

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ACC and Ambuja place merger on hold

27 February 2018, Published under Cement News

ACC Ltd and Ambuja Cements Ltd have placed their proposed merger on hold due to constraints related to the transfer of mines under current laws, reports the Hindustan Times.  "The current regime on transfer of mineral concessions is still evolving and does not provide for a merger currently," said a spokesperson for ACC. "Given the challenges of achieving such transfers across 18-20 states, it was found prudent not to pursue the same at this point of time." The merger has been under re...

LafargeHolcim's Ambuja Cement to build new 3.1Mta Rajasthan plant

21 February 2018, Published under Cement News

LafargeHolcim will strengthen its presence in India with the construction of a new cement plant in Marwar Mundawa, in the state of Rajasthan. The CHF200m (US$213.4m) investment will serve customers in the north, including Delhi. The new plant, which is being set up by the group’s subsidiary Ambuja Cement will have a clinker capacity of 3.1Mta and is due for commissioning in the second half of 2020.   Jan Jenisch, group CEO of LafargeHolcim, said: "India is the second-biggest global cement ...

Ambuja Cements Ltd posts 89% leap in 4Q17 profits

21 February 2018, Published under Cement News

Ambuja Cements Ltd (LafargeHolcim Group) has reported an 89 per cent jump in quarterly profit, helped by higher cement sales volume. Stand-alone profit rose to INR3.38bn (US$52.2m) in the fourth quarter ended 31 December 2017, from INR1.79bn a year earlier. Cement sales volume rose to 5.87Mt in the quarter, from 5Mt in the 4Q16. Net quarterly sales advanced 19 per cent YoY to INR26.12bn.  

Ambuja Cements sees 9.7% net profit rise in 3Q

25 October 2017, Published under Cement News

LafargeHolcim-owned Ambuja Cements' standalone unaudited income remained stable in 3Q17 at INR24.73bn (US$379.8m) when compared with the previous year (3Q16: INR24.72bn) but noted a 25.4 per cent drop when compared with 2Q17, when it reached INR33.16bn. Profit before tax rose 11.3 per cent YoY to INR3.36bn from INR30.02bn but saw a 38.6 per cent decrease QoQ (2Q17: INR5.47bn) while net profit reached INR2.72bn, up 9.7 per cent from INR2.48bn in 3Q16, but down 31.3 per cent from INR3.92bn ...

Ambuja Cement disrupted by trucker strike

10 October 2017, Published under Cement News

Cement and clinker truckers carried through their Monday strike in Himachal Pradesh over various demands, including a revision of the Goods and Service Tax rates and an end to daily revision of diesel prices, reports The Tribune. "We are observing the day-long strike on the call for a nationwide strike," said truckers’ association spokesperson Ram Kishan Sharma. More than1200 truckers were on strike, refusing to lift for transportation cement and clinker of Ambuja Cement from its two...

Ambuja Cements receives state nod for new grinding plant

04 July 2017, Published under Cement News

Odisha's State Level Single Window Clearance Authority (SLSWCA) on Friday gave Ambuja Cement the go-ahead to construct a 1.5Mta cement grinding unit. The LafargeHolcim group's Indian concern has proposed the facility be established on 125 acres of land at Jharsuguda, according to Business Standard India.

LafargeHolcim expected to announce merger deal for ACC and Ambuja Cements

06 February 2017, Published under Cement News

LafargeHolcim, the parent company of ACC and Ambuja, is considering merging its two Indian cement majors, sources told CNBC-TV18. LafargeHolcim owns 63 per cent in Ambuja Cements. In November last year, the parent company had increased its stake in ACC and Ambuja Cements by four and two per cent, respectively. Ambuja Cements, already owns a 50.05 per cent stake in ACC. LafargeHolcim said it did not wish to comment on speculation, but sources tell CNBC-TV18 that the merger is likely to hap...

India: Seven cement firms fined for bid-rigging

20 January 2017, Published under Cement News

The Competition Commission of India (CCI) has imposed fines totalling more than INR2bn (US$30m) on seven cement firms it found guilty of colluding in their responses to a 2012 tender from Haryana state, Indian media reports. The companies have each been fined 0.3 per cent of their average annual turnover for the past three years. Ultratech faces the largest penalty, at INR683m – around a third of the total. The other firms fined were Jaiprakash Associates, ACC, Ambuja Cements, Shree Cemen...

India: LafargeHolcim increases stake in Ambuja and ACC

16 November 2016, Published under Cement News

LafargeHolcim has increased its shareholding in Ambuja Cement through the purchase of an additional 39.1m shares, increasing the Franco-Swiss firm’s stake by 1.49 per cent to 63.1 per cent. LafargeHolcim also increased its stake in ACC – since mid-2016 a subsidiary of Ambuja – with the purchase of 7.9m shares, taking its stake to 4.5 per cent. The cost of the two purchases amounts to CHF325m (US$324m). 

Ambuja Cement profits up 80% as Indian profits climb 40% overall

04 November 2016, Published under Cement News

Ambuja Cement has released its Q3 earnings, which show that net profits for the company were up by 80 per cent YoY at INR2.77bn (US$41.5m). Revenues were down slightly, falling by 4.3 per cent to INR20bn, but dividend income from its shareholding in ACC and falling costs, particularly in terms of power and fuel (down 10 per cent) helped to improve the company’s bottom line. Ambuja reported that diesel costs rose over the period, but this was compensated for by an improved fuel mix. ...