Cement News tagged under: UltraTech Cement

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India: UltraTech completes deal to buy Jaypee Cement

13 June 2014, Published under Cement News

Jaypee Cement Corporation unit in Gujarat, India, will come into UltraTech Cement's possession following approval for the acquisition from the Bombay and Ahmedabad High Courts. The deal includes the 4.8Mta cement plant with a 57.5MW coal-based thermal power plant, limestone reserves for over 90 years and a captive jetty at Sewagram for an enterprise value of INR38000m (US$637.8m). The company has already received the approval of capital market regulator SEBI, shareholders and creditors. As...

UltraTech in talks to buy further Jaiprakash assets

11 June 2014, Published under Cement News

UltraTech Cement is reportedly in talks to buy further cement assets from Jaiprakash Associates, two sources with knowledge of the matter have told local press. The talks are centred on UltraTech acquiring Jaiprakash’s Rewa complex in Madhya Pradesh, to help the latter company reduce its debt burden. Last year, UltraTech agreed to buy Jaiprakash’s cement assets in Gujarat which have a cement capacity of 4.8Mt.

UltraTech Cement could buy Holcim-Lafarge assets

06 May 2014, Published under Cement News

UltraTech Cement Ltd, India’s biggest cement maker, is considering buying the local assets of Holcim Ltd and Lafarge SA, according to a person with direct knowledge of the matter. “The ready availability of assets may help the Indian firm gain market share without having to build greenfield factories,” said Rashesh Shah, an analyst at ICICI Securities Ltd in Mumbai. Birla’s plan also underscores optimism among investors that a stable government following this month's elections will spur a ...

UltraTech Cement quarterly profit rises 15% YoY

24 April 2014, Published under Cement News

UltraTech Cement reported a 15 per cent rise in net profit of INR8.4bn (US$138m) for the first quarter of the year on cost control initiatives. The company said it saw continuing pressure on input and logistic costs due to the increase in railway freight and a continuous hike in diesel prices. Although there was some relief on account of softening prices of imported coal, the impact was negated by the depreciation of the Indian rupee. However, optimisation of its fuel mix and other initiat...

India: UltraTech in talks to acquire further Jaypee assets – report

21 February 2014, Published under Cement News

UltraTech Cement is in preliminary talks to acquire the Jaypee Group’s cement assets in Solan, Himachal Pradesh state, according to local media citing two sources familiar with the situation. The assets include an integrated cement plant and a grinding and blending unit. Two European companies were also reported to be in the race to but talks have have failed, one of the two people, a senior executive at one of the companies, said. In September 2013, UltraTech acquired Jaypee’s cement as...

SPCB issues notice to Orissa plant, India

31 January 2014, Published under Cement News

The State Pollution Control Board (SPCB) has issued a show cause notice to UltraTech Cement’s factory in the village of Arda, Orissa, for violating pollution norms and asked the company to respond within 15 days as to why action should not be taken against it. Residents surrounding the plant have claimed that dust emissions are causing a health hazard. Mukesh Mahalinga, regional officer of SPCB, said the notice was issued after a team of inspectors visited the plant over the 5-10 December, ...

UltraTech quarterly profit hit by subdued demand

20 January 2014, Published under Cement News

UltraTech Cement, the leading cement producer in India, reported a 38.43 per cent decline in net profit for the last three months of 2013 as sluggish demand leads to a weaker pricing environment. Net profit during the October-December quarter fell to INR370 crore compared to INR601 crore in the same period of 2012.  Net sales in the three month period also declined marginally to INR4786 crores compared to INR4857 crore in the comparative quarter the year before. Domestic cement and cl...

UltraTech director elected as new CMA president

10 January 2014, Published under Cement News

Mr OP Puranmalka, Ultratech Cements whole-time director, has been elected as the new president of the Cement Manufacturers' Association (CMA) of India for the 2013-14 term. Mr Puranmalka will replace MAMR Muthiah of Chettinad Cement, CMA said in a release today. JK Lakshmi Cement whole-time director, Shailendra Chouksey, has been elected as the Vice-President of the 51-year old industry body. Speaking at the CMA's 52nd AGM, Mr Puranmalka raised concerns over the lag in the industry,...

CCI approves UltraTech acquisition of Jaypee’s Gujarat assets

24 December 2013, Published under Cement News

The Competition Commission of India (CCI) has given UltraTech Cement the green light to purchase Jaypee's cement facilities in Gujarat. The CCI order, released on Monday, said that the “proposed combination is not likely to have an appreciable adverse effect on competition in India". The deal, which was announced in September this year, will strengthen UltraTech's leading position in the Indian market and give it a foothold in the state of Gujarat. The acquisition comprises an integrated c...

UltraTech in talks for two plant projects

12 December 2013, Published under Cement News

UltraTech 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...