UltraTech to buy Samruddhi to form India's No.1 cement firm

SINGAPORE 2009年 11月 16日 星期一 10:42 BJT

SINGAPORE Nov 16 (Reuters) - UltraTech Cement (ULTC.BO), a unit of Indian conglomerate Aditya Birla Group, is absorbing sister unit Samruddhi Cement, to form the country's biggest cement firm, both companies said. The move, flagged in October, was approved by the boards of both companies on Sunday. The combined entity will be better placed to take on Swiss firm Holcim (HOLN.VX), which controls about a fifth of India's 200-million tonne cement market through ACC (ACC.BO) and Ambuja Cements (ABUJ.BO).

"The merger will achieve the group's objective of consolidating its cement business into a single entity, thereby creating a platform that will help in pursuing aggressive growth going forward," Kumar Mangalam Birla, chairman of Aditya Birla Group, said in a statement on Sunday.

In October, the group said it will hive off the cement business of flagship firm Grasim Industries (GRAS.BO) into unit Samruddhi in a cashless transaction and later merge it with group firm UltraTech. [ID:nBOM163083]

India's cement market has seen demand revive in the last few months on resilience in rural consumption and higher spending on roads and infrastructure projects.

Aditya Birla Group's enlarged cement unit said it will have a production capacity of 48.8 million tonnes and become the world's 10th largest cement firm.

Samruddhi shareholders will receive four shares of UltraTech for every seven held in Samruddhi. UltraTech will also issue 149.5 million new shares, boosting its capital to 2.74 billion Indian rupees ($59 million).

For the company statement, click: r.reuters.com/tyt69f ($1=46.18 Indian Rupee) (Reporting by Anshuman Daga; Editing by Lincoln Feast)


路透摄影记者Kim Kyung-Hoon拍摄了一组反映北京雾霾的照片,反映了空气污染对普通百姓生活方方面面的影响。





技术面显示,沪指短线处于上下档均有牵引的弱平衡状态,料震荡延续后将寻求突破方向;中线看,大盘再度回试五周均线,下周若不能收回3,350点之上,则调整有望进一步展开。  全文 


《KEMP专栏》美国天然气产量逆境下劲扬 个中玄机堪供石油产出借镜

以2014年6月以来油价及石油新钻探活动双双下降来看,天然气领域的经验现在特别显得贴近。但天然气领域带来的真正教训远远更加复杂,也凸显出价格、钻探活动和产量之间的微妙关系。  全文 


《阳歌专栏》华为在世界移动通信大会豪掷千金 完胜中兴和联想

华为在本周举行的世界移动通信大会上豪掷千金,暗示其今年大举进军欧洲和美国市场的决心。  全文 


《SAFT专栏》资本潮转头撤出 人民币料走低

中国再次降息,这是近几个月的第三次宽松行动,多少出乎市场意料。鉴于中国经济增长迅速放缓,以及同时资本外流的情况,这样做算是有理。但人民币兑美元看来可能进一步贬值。  全文