Cement News tagged under: UltraTech
Jaiprakash reportedly in talks to sell Bhilai unit to UltraTech21 May 2015, Published under Cement NewsJaypee Group company Jaiprakash Associates is in talks with UltraTech Cement to sell its 2.2Mta cement plant in Bhilai, Chhattisgarh state, Business Standard report suggests. The Bhilai plant is a joint venture between Jaypee Group (74 per cent stake) and public sector Steel Authority of India (26 per cent). Sources say Ultratech will pay around INR2000 crore in a deal that would lift the company's overall capacity to 67Mta. When asked to comment by Business Standard, a Jaypee Group spokes... |
UltraTech Cement03 February 2015, Published under Cement NewsFollowing its acquisition last month of two cement plants and related power assets from Jaiprakesh Associaties Ltd in Madhya Pradesh, UltraTech Cement Ltd has announced further expansion plans including two greenfield grinding units in Bihar and West Bengal. The new plants, which will add 3.2Mta capacity, will enable UltraTech to take advantage of the predicted upturn in cement demand in India. According to the government, the combination of 5.5 per cent economic growth in 2015 and a kick... |
UltraTech Board approves Jaiprakash Associates MP acquisition24 December 2014, Published under Cement NewsThe Board of Directors of UltraTech have approved in principle the acquisition of the Madhya Pradesh assets of Jaiprakash Associates Ltd, which represents an entreprise value of INR54bn (US$852m). The acquisition includes an integrated cement plant with a clinker capacity of 2.1Mta and a cement capacity of 2.6Mta in Bela and an integrated unit at Sidhi with clinker and cement capacities of 3.1Mta and 2.3Mta, respectively. The deal also covers a 180MW thermal power plant complex of which 1... |
Cementos Argos23 December 2014, Published under Cement NewsCementos Argos has pulled out of the running for any Brazilian assets being sold off following the Lafarge/Holcim merger. According to Cementos Argos, any potential purchase would not “generate the value its investments would expect”. UltraTech Cement has reportedly also followed suit with the Brazilian economy being blamed by many for the u-turn. Brazil has seen its economy shrink by 0.9 per cent in 2Q14 and a further 0.25 per cent in the third quarter. Growth of around 1.4 per cent is p... |
UltraTech Cement20 December 2013, Published under Cement NewsUltraTech Cement, part of the Aditya Birla Group, has announced plans to set up two new cement plants in the northern Indian state of Uttarakhand. The plants will be located at Tyuni in the Dehradun district (3.5Mta) and Someshwar in the Almora district (2Mta). According to the company, the multi-phase investment will bring jobs to the area whilst also ensuring that the environment of the region is kept intact. A number of incentives have been put in place by the government to encourage inve... |
UltraTech Cement02 December 2013, Published under Cement NewsIndian market leader, UltraTech Cement Ltd, is bracing itself for increased pressure on margins as the cost of raw materials and coal continues to rise while demand remains subdued. Further rises in diesel prices and an ongoing weakening of the rupee have added to the torment. As a result, cement prices have been increasing since the end of the monsoon season in September, with wholesale prices up by between INR5 (US$0.08) and INR40 (US$0.64) per bag in the north, west and east regions. ... |
UltraTech Cement28 October 2013, Published under Cement NewsUltraTech Cement’s performance in 3Q13 has fallen well below expectations with net profits tumbling 52 per cent YoY to INR2.6bn (US$42m). This marks the biggest drop in profit for the company since 2010. Rising input and energy costs have been blamed for putting pressure on margins for many of India’s cement companies. Low demand also remains a concern in an economy that is growing at its slowest pace for a decade. “Logistics and raw material costs continued to rise given the high diesel... |
UltraTech on verge of signing Jaiprakash Associates deal11 September 2013, Published under Cement NewsUltraTech Cement is reportedly on the verge of signing a deal with Jaiprakash Associates to acquire the latter’s cement assets in the Indian state of Gujarat. Following months of negotiations, the agreement is expected to be signed today, according to local press speculation. Both Jaypee and UltraTech are expected to make the announcement simultaneously in Delhi and Mumbai, respectively. The Gujarat units have a capacity of 4.8Mta and will help increase UltraTech’s presence in western Indi... |
UltraTech Cement02 July 2013, Published under Cement NewsUltraTech Cement saw its shares lose seven per cent of their value in the first week of June as the seasonal monsoon rains arrived, which are due to last until September. This will do little to cheer up India’s cement producers who have already seen a flat first quarter with no growth in sales and little prospect of demand picking up. UltraTech was one of a number of producers also reporting flat EBITDA/t during 1Q13. Volumes declined by one per cent YoY, significantly below the government’s... |
Operations resume at Awarpur plant, India15 March 2013, Published under Cement NewsOperations have resumed at UltraTech’s Awarpur cement plant in the state of Maharashtra following a temporary closure due to strike action. The 3.6Mta has been shut since 14 March 2013 due to worker’s unrest but were restarted yesterday morning. UltraTech said in a filing to the stock exchanges that "operations at the aforesaid unit [Awarpur Cement Works] have since resumed from March 14, 2013." India's largest cement company had said on 1 March that the stoppage would not have a majo... |