Cement News tagged under: UltraTech Cement

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UltraTech facility begins receiving dry waste for RDF use

20 November 2019, Published under Cement News

India’s UltraTech Cement has begun receiving dry waste at its unit in Jaggayyapet, Andhra Pradesh, sent from Vijayawada Municipal Corp’s (VMC) recycling facility in Ajit Singh Nagar. As part of the year-long memorandum of understanding signed between the two parties, the producer will receive 50tpd of waste. “Around 50t of dry waste collected by the VMC, which comprises of discarded plastic, will be used for generating refuse-derived fuel (RDF) at cement kilns. It is a win-win situation for...

Heidelberg Cement Bangladesh announces acquisition of ECBL & EPCL

13 November 2019, Published under Cement News

Heidelberg Cement Bangladesh Ltd has informed the Dhaka Stock Exchange that the company's Board of Directors has approved the acquisition of 100 per cent of the shareholding of Emirates Cement Bangladesh Ltd (a private company limited by shares incorporated in Bangladesh and engaged in cement production) and Emirates Power Co Ltd (a private company limited by shares incorporated in Bangladesh and engaged in generating and supplying electricity) from UltraTech Cement Middle East Investments L...

India’s demand growth shifts gear

11 November 2019, Published under Cement News

The April-June 2019 quarter saw India’s cement growth slow, putting the brakes on a long spell of double-digit advances. Higher cement prices and lower input costs have helped support producer profit margins, but with no immediate demand recovery in sight, government infrastructure and affordable housing projects are the main beacons of light. The Indian cement sector has seen another interesting quarter with the economy and pace of cement consumption slowing, the sustainability of...

UltraTech Cement looks to divest Bangladesh asset

06 November 2019, Published under Cement News

India's UltraTech Cement has stated that its plan to divest non-core assets in China, the UAE and Europe, is progressing well. It has also announced that it is looking to exit the Bangladesh market. "We are also exploring opportunities to exit Bangladesh, where we have a small grinding unit of 0.6Mt. All the proceeds from these asset disposals will help bring down our leverage position further," said Atul Daga, CFO, following the company's 2Q earning announcement. The Bangladeshi unit i...

UltraTech boosts capacity and reports 3Q results

22 October 2019, Published under Cement News

UltraTech completed the acquisition of Century's cement business, with the Scheme of Demerger  effective from 1 October 2019. With this acquisition, UltraTech's cement manufacturing capacity stands augmented to 117.4Mta, including its overseas capacity. This makes UltraTech the third-largest cement company in the world, outside of China. It is also the only company in the world to have a capacity of over 100Mta in a single country, outside of China. The quarter ended 30 September 2019 witn...

UltraTech Cement outlines Century 'Scheme of Arrangement'

01 October 2019, Published under Cement News

UltraTech Cement's Board of Directors has declared the Scheme of Arrangement between Century Textiles and Industries Ltd (Century), the company and their respective shareholders and creditors (the Scheme) to be effective from 1 October 2019. For the scheme, the company will issue one equity share of face value INR10 (US$0.14) each for every eight equity shares of face value INR10/each held by the shareholders of Century, as on the record date to be decided by Century. This acquisition furt...

Indian cement companies amongst bidders for coal blocks

10 September 2019, Published under Cement News

India’s UltraTech Cement, ACC Cement and Reliance Cement are amongst the prospective bidders for the auction of 27 coal blocks. To attract investors, the government has allowed the sale of up to half the output to Coal India at a notified price, while a further 25 per cent can be sold in the open market. However, block operators have to consume at least 25 per cent of their produce in their own plant, according to The Economic Times. The Coal Ministry has also increased the time limit for...

UltraTech MD to step down in December

10 September 2019, Published under Cement News

Krishna Kishore Maheshwari will be appointed as UltraTech's first non-executive vice chairman as he retires from his managing director role on 31 December this year. Kailash Chandra Jhanwar, currently deputy managing director and chief manufacturing officer, will succeed Mr Maheshwari as MD after this date. Before serving three years as MD at UltraTech, Mr Maheshwari was the managing director at Grasim. He is also a director for Aditya Birla Management Corp, a corporate body which provide...

Emirates Cement to be sold to HeidelbergCement Bangladesh Ltd

09 September 2019, Published under Cement News

UltraTech Cement Ltd (Aditya Birla group) is in the final stages of selling its stake in Emirates Cement Bangladesh to HeidelbergCement Bangladesh Ltd. Emirates Cement operates a 0.5Mta grinding plant in Mukterpur, Bangladesh. UltraTech has proposed selling its share holding in Emirates Cement at BDT17.09 (US$0.20)/share setting the total sales value stake in Emirates Cement at BDT2710m (US$32.1m). HeidelbergCement Bangladesh Ltd  currently operates two grinding plants in the country at ...

UltraTech Cement announces 91% rise in consolidated profit

09 August 2019, Published under Cement News

India’s UltraTech Cement Ltd has announced a 91 per cent YoY growth in consolidated net profit to INR12.08bn (US$171.2m) for the quarter ending 30 June, compared with INR6.31bn in the year-ago period. Net sales increased 15 per cent to INR100bn, while EBITD surged 61 per cent to INR28.4bn from INR17.6bn. Standalone net sales rose 15.5 per cent YoY in the 1QFY19-20, reaching INR96.48bn from INR83.54bn. The company more than doubled its net profit which soared to INR11.99bn from INR5.98bn. E...