Cement News tagged under: Sagar Cements

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Vicat to take full control of Indian joint venture

16 July 2014, Published under Cement News

Vicat 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 ...

Sagar denies Vicat buy-out talks

20 March 2014, Published under Cement News

Sagar Cements Ltd has denied reports that it is in talks to sell its 47 per cent stake in its Vicat Sagar joint venture.   The Economic Times newspaper earlier reported, citing unnamed sources, Vicat had started talks with Sagar to buy out its Indian partner in the joint collaboration which started production last year. "We wish to deny the contents relating to our company in the said news item, which are speculative in nature," Sagar Cements said in a statement to the stock exchanges.

India: Sagar Cements to invest INR1200m in railway line

14 June 2013, Published under Cement News

Sagar Cements Ltd will invest INR1200m |(US$20.8m) in a private railway line to improve its market reach and cut freight costs. The 7km line will connect the company’s plant, near Matampally in Nalgonda district of Andhra Pradesh, with the main railway line. Of the proposed investment of US$20.8m, INR980m (US$16.9m) is to come from debt and the remaining from internal accruals. “Completion of this line will lead to better efficiencies and savings in costs. INR200m has already been inves...

Squeeze tightens on Indian cement

13 June 2013, Published under Cement News

Muted volume growth and continuing cost pressures have put a further squeeze on the earnings of Indian cement companies with a disappointing 15 per cent YoY fall in EBITDA/t in Q4FY13. Among the large companies, only HeidelbergCement managed to report an improvement while UltraTech Cement, Dalmia Cement and Prism Cement all reported flat EBITDA/t during the quarter. Volumes declined one per cent YoY over the same period, significantly below the government’s recently revised 7.3 per cent in...

Vicat launches Bharathi brand in south Maharashtra market, India

07 March 2013, Published under Cement News

The Vicat Group has launched its Bharathi cement brand in the south Maharashtra market, which is being supplied from its new plant at Gulbarga, Karnataka. The plant, which has a nominal capacity of 2.8Mta of cement was launched towards the the end of last year, and is a joint venture between Vicat of France and Sagar Cements of India. The main target markets for the Vicat-Sagar plant are various districts in the south such as Kolhapur, Raigarh, Ratnagiri, Sangli, Sindhudurgh, Satara and ...

Vicat Sagar joint venture plant begins production, India

20 December 2012, Published under Cement News

The first line at the greenfield Vicat Sagar plant, a joint venture between France-based Vicat and Sagar Cements, has started production. Located in the north of Karnataka, the plant has a nominal cement capacity of 2.8Mta and has a captive power plant and immediate access to rail transport. To benefit from substantial operational synergies between the companies controlled by Vicat in India, the plant’s production will be marketed under the “Bharathi” brand, backed up by its strong reputa...

Sagar-Vicat venture to begin operations in October, India

02 August 2012, Published under Cement News

The joint-venture cement plant between Sagar Cements of India and Vicat Group of France will begin operations in October. “The clinkerisation is expected to be completed by September end,’’ Mr Srikanth Reddy, Executive Director, Sagar Cements, told Business Line. The plant is being constructed in Gulbarga district in the Indian state of Karnataka. Phase 1 of the project has a production capacity of 2.5Mta and total capacity, including Phase 2, would be 5.5Mta by 2014, Mr Reddy added.

Sagar Cements net profit falls 77%, India

19 July 2012, Published under Cement News

Sagar Cements Ltd’s net profit declined 77 per cent at INR 4.1 crore in the first quarter of FY12-13 compared to INR 18.1 crore in the year-ago period. Revenues of the Hyderabad-based company almost remained flat at about INR150 crore. “The operating environment for cement companies thus far has been challenging. With increasing power and fuel costs, margins are being impacted,” Mr Sreekanth Reddy, Executive Director, Sagar Cements said in a release.