Cement News tagged under: india
India: Dalmia Cement plunders executives from Shree13 December 2013, Published under Cement NewsMahendra Singhi has joined the Dalmia group has its new managing director from rival Shree Cement where he had spent 19 years, with his last position being executive director. His aim will be to consolidate cement operations and build efficiencies while working with private equity investor KKR. The US-based fund KKR, which invested US$125m in the cement company in 2010, helped Dalmia implement best practices and integrate acquisitions. KKR has already standardised management practices ... |
UltraTech in talks for two plant projects12 December 2013, Published under Cement NewsUltraTech Cement is planning to invest the construction of two cement plants in the northern Indian state of Uttarakhand. The Industrial Development Department of Uttarakhand has reportedly signed a Memorandum of Understanding with India’s largest cement producer for a 3.5Mta plant in Tuni and a 2Mta plant in Someshwar. Chief minister of Uttarakhand, Vijay Bahguna, said: "The setting up of these two major plants in the field of cement manufacturing, in these two socially and economical... |
HeidelbergCement India mulls bond placement12 December 2013, Published under Cement NewsHeidelbergCement India's board is considering raising INR370 crore by issuing non-convertible debentures (NCDs) on private placement basis. In a filing to the Bombay Stock Exchange, HeidelbergCement India said: "... a meeting of the board of directors of the company will be held on December 16, 2013, inter alia, to consider issuance and allotment of the debentures aggregating to INR3700m." It was planning to issue Indian rupee denominated, rated, listed, unsecured, redeemable NCDs aggreg... |
Indian demand: signs of gradual pick-up09 December 2013, Published under Cement NewsIndian cement demand is seeing gradual signs of recovery with an uptick in demand being witnessed in a number of states, a sector survey has revealed. Over the first three quarters of the current calendar year, cement consumption has been subdued and the industry is expected to fall short of the seven per cent demand growth projected at the start of the year. However, a report by ICICI Securities published in BusinessLine India shows that demand has improved in Punjab, Harayana, Uttar Pr... |
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 ... |
UltraTech Cement appoints independent director05 December 2013, Published under Cement NewsIndia’s largest cement producer UltraTech Cement said its board of directors has appointed Arun Adhikari as additional director (Independent) to the board, effective 3 December 2013. Adhikari is an alumni of the Indian Institute of Technology, Kanpur and the Indian Institute of Management, Calcutta. |
Prism Cement's credit metrics seen improving from FY1504 December 2013, Published under Cement NewsIndia-based cement producer Prism Cement Ltd is expected to see an improvement in credit metrics from FY15 on the back of an overall improvement in operating efficiency and an absence of any debt-led capex, according to a recent note by India Ratings. It has assigned Prism Cement Limited (PCL) a Long-Term Issuer Rating of 'IND A-'. The Outlook is Stable. The research house notes that the sharp deterioration in PCL's financial profile in FY13 was largely driven by the breakdown of a silo a... |
HeidelbergCement plans India bond placement03 December 2013, Published under Cement NewsHeidelbergCement India plans to raise INR3.7bn (US$59.4m) by issuing non-convertible debentures on private placement basis. "... subject to receipt of various approvals, planning to offer and issue Indian rupee denominated, rated, listed, unsecured, redeemable, non-convertible debentures aggregating to INR3700m, on private placement basis, to its non-resident parent/ group company (ies), which qualify as Qualified Foreign Investors (QFIs)...," the company said in a BSE filing. He... |
UltraTech Cement02 December 2013, Published under Cement NewsIndian market leader, UltraTech Cement Ltd, is bracing itself for increased pressure on margins as the cost of raw materials and coal continues to rise while demand remains subdued. Further rises in diesel prices and an ongoing weakening of the rupee have added to the torment. As a result, cement prices have been increasing since the end of the monsoon season in September, with wholesale prices up by between INR5 (US$0.08) and INR40 (US$0.64) per bag in the north, west and east regions. ... |
Pakistan export volumes rise in 4MFY13-1427 November 2013, Published under Cement NewsPakistan export volumes have increased in the first four months of the current fiscal compared to the same period a year ago, but October volumes were down on a monthly and annual basis. During the first four months of the current fiscal, Pakistan exported 3.159Mt of cement on revenues of US$190.08m, data from the country’s Bureau of Statistics shows. This translates to a 7.42 per cent YoY increase in volumes but a marginal decline of 0.04 per cent in value terms. However, in terms o... |