Cement News tagged under: Sagar Cements
India: Sagar Cements reports 16% rise in March sales08 April 2016, Published under Cement NewsIndia’s Sagar Cements Ltd reported a 16 per cent increase in March sales from 170,410t in 2015 to 197,583t. Sales were particularly strong in Andhra Pradesh and Telangana, where they rose by 135 per cent to 59,830t and by 119 per cent to 52,101t, respectively. Sales in Karnataka were hit by a 47 per cent decline and in Tamilnadu they fell by 36 per cent. Orissa and Maharashtra recorded decreases of 18 and six per cent, respectively. Output saw a 42 per cent rise from 140,480t in March 2015 t... |
Sagar reportedly in talks to buy Jaypee's Andhra Cements19 January 2016, Published under Cement NewsSagar Cements is in advanced talks to acquire Andhra Cements from the Jaypee Group, the Economic Times (ET) of India has learnt from two sources. JSW Cement is another potential contender, according to the sources. Andhra Cements has two plants in the southeastern Indian state of Andhra Pradesh with a combined capacity of 2.6Mta. It also has a 25MW captive power plant under construction. The sources said that Sagar Cements will make an open offer to the minority shareholders of Andhra Cem... |
India: Sagar Cements reports rise in monthly output and sales09 September 2015, Published under Cement NewsIndia-based Sagar Cements Ltd on Tuesday reported a 6.87 per cent rise in output during August 2015 to 114,600t compared to 107,236t a year earlier. Dispatches during August 2015 stood at 113,380t, an increase of 5.23 per cent, compared to 107,749t in August 2014. Earlier this month the company completed the acquisition of a 100 per cent shareholding in BBM Cements. BMM Cements has now become a wholly-owned subsidiary of Sagar Cements. |
India: BMM Cements becomes wholly-owned subsidiary of Sagar Cements01 September 2015, Published under Cement NewsSagar Cements has acquired 100 per cent equity holding in BMM Cements. With this, BMM Cements has now become a wholly-owned subsidiary of the company. The company had earlier received final approval for the acquisition of 100 per cent equity stake in BMM Cements, which owns a cement plant of 1Mta and a 25MW captive thermal power plant in Gudipadu near Tadipatri Anantapur District in the state of Andhra Pradesh. The board of directors at their meeting held on 17 October 2014 approved the d... |
Sagar Cement rail line on track for July opening08 June 2015, Published under Cement NewsIndia's Sagar Cement announced will commission its INR1200m (US$18.7m), 7km private railway line next month. This line will connect Sagar’s plant, near Matampally, in Nalgonda, Andhra Pradesh, with the main railway line. S Sreekanth Reddy, Sagar Cement’s executive director, said: “The company had already received its first train and full commercial operations will begin after safety checks by end of July”. The railway line is likely to boost the company’s market reach as well as slash frei... |
Sagar Cement posts INR2.82 net profit20 October 2014, Published under Cement NewsIndia-based reported a net profit of INR2.82bn in the quarter ended 30 September 2014, compared with a INR115m loss the previous year. The cement maker’s revenues rose by 23.6 per cent to INR1.25 in the July-September quarter. The other income of the cement company included INR3.49bn profit that was realised from the sale of its stake in tthe joint venture with Vicat group. |
Sagar gets Board nod for BMM acquisition25 September 2014, Published under Cement NewsThe board of Sagar Cements has given approval in-principle for the acquisition of a 100 per cent equity stake in BMM Cements Ltd as the company seeks to expand its presence in southern India. The deal involves the acquisition of a 1Mta cement plant and a 25MW captive thermal power plant in Gudipadu, near Tadipatri Anantapur district in the state of Andhra Pradesh. Successful completion of the transaction is subject to further negotiation to arrive at the acquisition price and other term... |
Sagar Cement completes sale of joint-venture stake08 September 2014, Published under Cement NewsSagar Cements has completed the sale of its stake in Vicat Sagar Cement, therefore formalising its exit from the joint-venture company. In mid-July an agreement had been reached whereby Sagar Cements would sell its entire 47 per cent stake in the collaboration to Vicat for INR66.86/share (US$1.1). The company had earlier obtained approval from shareholders through postal ballot for the sale of the investment held in Vicat Sagar Cement. The joint venture was set up in 2008 and the 2.75Mt... |
Sagar in talks to buy BMM Cements, India14 August 2014, Published under Cement NewsSagar Cement is in talks to buy BMM Cements as it plans to use the proceeds from the sale of its stake in the Vicat Sagar joint venture to fund growth organically and through M&A activity. BMM Cements operates a 1Mta integrated cement works along with a 25MW captive power plant near the Tadipatri in Anantapur district of Andhra Pradesh. Sources told the Economic Times of India that a team of Sagar Cements has already inspected BMM’s manufacturing and limestone assets and the legal and t... |
Vicat to take full control of Indian joint venture16 July 2014, Published under Cement NewsVicat is to take 100 per cent control of Vicat Sagar Cements after agreeing to buy out Sagar Cements from the joint venture company. An agreement has been reached whereby Sagar Cements will sell its entire 47 per cent stake in the collaboration for INR66.68 per share (US$1.1). The company said it would use a part of the money to purchase some capital equipment for its Matampally plant, while the remaining amount would help fund organic and inorganic growth in south India. Vicat Sagar ... |