Cement News tagged under: UltraTech Cement

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India: UltraTech outlines upcoming greenfield expansion

16 January 2015, Published under Cement News

Following its planned takeover of two cement plants owned by the Jaypee group, UltraTech has outlined its next phase of greenfield expansion. India’s largest cement producer is planning to set up two  greenfield grinding units in Bihar and West Bengal, according to managing director OP Puranmalka. In addition, the company plans to build a bulk terminal in Maharashtra to enhance transport and logistics, and increase capacity at its existing plant in Rajasthan. While the capacity expansion w...

UltraTech to not bid for Lafarge/Holcim assets

13 January 2015, Published under Cement News

UltraTech has pulled out of the race to buy cement assets up for sale as Lafarge and Holcim’s proposed merger, the Indian cement major confirmed to local press.  An UltraTech spokesperson told ET Now that the company has not participated in the final round of bidding. The company had reportedly previously expressed an interest in buying assets in Brazil and Philippines and had placed a bid in the first round. The due diligence process had been conducted for assets worth around US$2bn b...

UltraTech reportedly in talks to buy further Jaiprakash units

19 December 2014, Published under Cement News

UltraTech Cement is in talks to acquire Jaiprakash Associates Ltd's cement plants in central and southern India, people with knowledge of the matter have told local press. The company is discussing the purchase of cement plants in the Indian states of Uttar Pradesh, Madhya Pradesh and Andhra Pradesh, the sources told Mint News. Last year, UltraTech purchased Jaiprakash’s cement plant in Gujarat which has a capacity of 4.8Mt.

Siemens surpasses motor milestone with UltraTech order

17 December 2014, Published under Cement News

Siemens Limited announced that it has surpassed a key milestone in manufacturing and delivering International Efficiency (IE) class industrial motors by handing the 100,000th motor to UltraTech Cement Ltd. in India. This translates to energy savings of 300GWh, which is equivalent to the power required by 80,000 average Indian households for an entire year, since the launch of the motors in January 2012, Siemens said in a statement. Siemens Ltd was the first company in India to launch local...

UltraTech re-evaluating Brazil asset bid

11 December 2014, Published under Cement News

Indian cement major UltraTech Cement is reportedly re-evaluating its decision to bid for the Brazilian assets put on the block by Holcim and Lafarge ahead of their planned merger. According to local press reports, the Aditya Birla company had submitted non-binding bids for the cement assets in October, after which binding bids are due in January. The company is now said to be “rethinking about the bids” and UltraTech Cement may “pull back at the binding stage,” sources familiar with the m...

UltraTech acquires 51% interest in Omani mining firm

10 November 2014, Published under Cement News

UltraTech Cement Middle East Investments, a subsidiary of UltraTech Cement, has acquired a 51 per cent interest in Omani mining company Awam Minerals LLC. Awam Minerals possess a licence for mining substantial gypsum deposits in the south of Oman, which will serve as a captive mine for UltraTech Cement's network of plants. UltraTech Cement. India’s largest cement producer, also operates two grinding units and a clinker plant in the UAE, and a grinding unit in Bahrain, through its Middle Ea...

India moves towards ending coal monopoly

21 October 2014, Published under Cement News

The Indian government has taken a cautious step towards ending the coal monopoly as its plans to allow private players to mine and sell coal, a move that is expected to benefit cement companies amongst others. The cabinet has approved auction of 74 of the recently-cancelled 204 coal blocks in the next 3-4 months. While state-owned companies will be allocated coal blocks on a priority basis and will not have to bid in the auction, private companies will be able for the first time to buy bl...

UltraTech sees 47% rise in net profit

20 October 2014, Published under Cement News

UltraTech Cement reported a 47 per cent YoY increase in its consolidated net profit to INR4.16bn (US$67.9m) for July-September, driven by a strong volume growth of 11 per cent and additional volumes from Jaypee’s cement units acquired last year. In July-September 2013, the company’s net profits reached INR2.83bn. Revenues for the period rose from INR48.49bn in 2013 to INR57.72bn in 2014. On a stand-alone basis, the Mumbai-based cement producer posted a net profit of INR4.1bn for the quart...

UltraTech to bid for Lafarge Holcim assets?

15 October 2014, Published under Cement News

UltraTech Cement is reportedly eyeing cement assets being put on the block by Holcim and Lafarge ahead of their planned merge Local press have speculated that the Aditya Birla group company is more interested in Holcim and Lafarge's assets in emerging countries, particularly in Latin America. Chairman Kumar Mangalam Birla is leading the bid preparations, a source familiar with the deal told The Times of India.

UltraTech Cement appoints two additional independent directors

14 October 2014, Published under Cement News

UltraTech Cement Ltd, India's largest cement producer, on Monday said it has appointed Renuka Ramnath and Sukanya Kripalu as additional independent directors on its board. The appointments are effective as of 11 October 2014, the Adity Birla Group company said in a filing to the exchanges. Ramnath is the founder of Mutliples, a US$400m private equity fund, and is a former managing director and chief executive officer of ICICI Venture. Kripalu is director at Sukanya Consulting and was the ...