Cement News tagged under: Emami Cement

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HeidelbergCement

28 October 2019, Published under Cement News

HeidelbergCement’s North American subsidiary, Lehigh Hanson Inc, has entered into an agreement with Giant Cement to acquire its Keystone cement plant in Bath, Pennsylvania. The 1.1Mta plant supplies the Pennsylvania, New Jersey and New York markets with bulk and bagged products. “With its modernised kiln, healthy customer base and large limestone reserves, the Keystone cement plant is an excellent strategic fit for HeidelbergCement in North America and an important step in strengthening our ...

Blackstone enters race for Emami Cement

16 October 2019, Published under Cement News

Blackstone Group Inc (KKR & Co) are reported to be contemplating a bid for Indian conglomerate Emami Group and Emami Cement Ltd. Bloomberg reports that TPG Capital is also considering a bid for Emami Cement Ltd and may seek a partner for the project. Emami Group has picked Arpwood Capital Ltd and Credit Suisse Group AG to supervise the sale of the cement unit, seeking a valuation of about US$1bn. The company operates three cement manufacturing plants in India and is setting up another one...

Dalmia Cement reportedly considers acquiring Emami Cement assets

12 September 2019, Published under Cement News

India’s Dalmia Cement (Bharat) has reportedly submitted an expression of interest in acquiring the cement assets of Emami Group, which have been valued at INR60bn (US$841.9m), according to The Economic Times. "Dalmia Bharat is currently studying the financials provided by the bankers of Emami Cement. The strategy will be decided once we conclude our assessment and firm up our intent to proceed. Moreover, we have a healthy leverage but would always keep all options open," said the company i...

Emami Cement receives approval for IPO

23 May 2019, Published under Cement News

Emami Cement Ltd has received approval from the Securities and Exchange Board of India for an IPO, which could raise INR10bn (US$143.56m), according to the Business Standard. The IPO would consist of the fresh issuance of shares worth INR5bn and the rest offered for sale from existing promoters. "We have received Securities and Exchange Board of India approval on 15 May, and we will now finalise a roadmap in consultation with the merchant bankers," said a company source.

Emami Group to demerge solar assets from cement company

20 December 2018, Published under Cement News

India’s Emami Group has received National Company Law Tribunal (NCLT) approval to demerge its solar power assets from its cement company. The assets will be consolidated under Emami Power, which will allow Emami Cement to focus solely on its core business. "Proposed demerger is being undertaken with a view to consolidate the power production business in Emami Power while allowing our company to focus on its cement manufacturing operations," stated Emami Cement in July, before approval was r...

Emami Cement improves power supply

03 December 2018, Published under Cement News

Emami Cement Ltd at Kalinga Nagar Industrial Area in the Indian state of Odisha has improved its power supply following its connection to the inter-state 400/220kV New Duburi grid of Odisha Power Transmission Corp Ltd. Emami was permitted to receive 15MVA power in 132kV from the power transmission company. However, taking its future expansion into account, the cement producer applied for 15MVA power in 220kV. AK Das Associates Ltd successfully completed the 220kV line along with substa...

Emami Cement files IPO prospectus

15 October 2018, Published under Cement News

Emami Cement has filed a prospectus with market regulator Sebi to raise up to INR10bn through an IPO, according to a document on issue manager manager Axis Capital’s website. "The Initial Public Offering of equity shares of face value INR10 each of Emami Cement Ltd for cash. The offer comprises of a fresh issue of equity shares aggregating up to INR500cr and an offer for sale (OFS) of equity shares aggregating up to INR500cr," it states. The IPO will include shares offered by founders gr...

Emami Cement orders system from ABB India

15 December 2017, Published under Cement News

Emami Cement has ordered an automation and electrical system from ABB India for a 2Mta greenfield plant in Odisha, according to moneycontrol. Emami hopes to meet the rising demand in the country by constructing energy-efficient cement plants. ABB will be helping the company meet that target by installing an ABB Ability™ Distributed Control System 800xA. The system will maximise plant uptime and optimise the cement production process.

Emami expects to break even in FY16-17

01 September 2017, Published under Cement News

India-based Emami Cement expects to break even by the end of FY17-18 and bank a profit by the next financial year. The company’s bottom line will be driven primarily by value and volume of sales, according to Vivek Chawla, wholetime director and CEO. Emami’s top line is forecast to expand to INR14bn-15bn (US$218.9m-234.5m) by the end of the current fiscal if sales of 3.2Mt are achieved. This sales volume represents 80 per cent of its 4Mta total installed capacity. “Usually cement compani...

India: Emami commissions 2Mta grinding plant in West Bengal

24 March 2017, Published under Cement News

Emami has commissioned its 2Mta cement grinding unit at the Panagarh Industrial Park in the Burdwan district of West Bengal, India. The INR7bn (US$107m) works has been developed on a 65-acre site and is part of the INR3.5bn, 5.5Mta cement production complex. The company operates a clinker plant and a grinding unit at Risda in Balodabazar district, Chhattisgarh with a further 1.8Mta grinding facility planned in Odisha. The Panagarh unit will produce the complete range of OPC (Ordinary ...