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Sunday, 04 October 09
GRASIM TO CONSOLIDATE CEMENT BIZ
 The Statesman reported that, India's largest cement producer Aditya Birla group today said it would consolidate its cement businesses by merging Grasim cement with Ultra Tech, which together will have a capacity of 49 million tons per annum or 20 per cent of the country's cement production.
The group, which had acquired Ultra Tech from engineering giant L&T in 2004, said it would hive-off Grasim cement into Samruddhi, a wholly owned subsidiary.
The demerged entity would be listed and then merged with UltraTech.
“Post consolidation of Samruddhi and UltraTech, a cement company with a capacity of 49 million tons will be created,” Grasim's whole-time director and chief financial officer, Mr Adesh Gupta told reporters here.
India produces nearly 219 million tons of cement per annum and is the second largest producer of the building material after China.
Presently, the capacity of Grasim is 26 MT and that of UltraTech is 23 million tons. “The entire consolidation would be over in the next 8-10 months,” Mr Gupta said.
The Aditya Birla Group chairman, Mr Kumar Mangalam Birla, in a statement said: “The restructuring move is designed to ensure Grasim's majority stake in, and continued support to, the rapidly-growing cement business, while simultaneously providing Grasim shareholders direct participation in the pure-play cement company.”
Post-merger (Samruddhi and UltraTech), Grasim's holding in the consolidated entity would be somewhere between 55-65 per cent, Mr Gupta said.
“Our holding in the merged entity will be between 55 and 65 per cent as we hold 55 per cent in UltraTech Cement while post-demerger our holding in Samruddhi will be 65 per cent,” he said.
Grasim shareholders would hold 35 per cent in Samruddhi.
The demerger of Grasim Cement is likely to be completed in the last quarter of this fiscal, he said.
As a part of the restructuring exercise, Samruddhi would issue one equity share of Rs 5 each to Grasim shareholders for every share they hold in Grasim.
The advisors to Grasim's restructuring process are DSP Merrill Lynch, Enam Securities, Amarchand and Mangaldas, Suresh A Shroff and Company and Ernst and Young. PTI
Source: The Statesman
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Friday, 25 September 09
FREIGHT RATE CUTS MAKING SOUTH AFRICAN COAL MORE COMPETITIVE IN ASIAN MARKETS
Mining Weekly reported that, Coaltrans South Africa MD Gerard Strahan highlighted the country’s sudden increase in coal exports to southern Ch ...
Friday, 25 September 09
XSTRATA TO BUILD ITS OWN RAIL CAPACITY TO SHIP AUSTRALIAN COAL
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used by power stations, will establish its own rail haulage capacit ...
Thursday, 24 September 09
INDIA CEMENT CO'S TO AWARD 200,000T COAL TENDER
Reuters reported that, India's biggest cement maker ACC Cement Ltd and Gujarat Ambuja will award on Thursday Sept 25 a tender for 100,000 tonnes ea ...
Thursday, 24 September 09
YUDEAN TO SIGN CO-OPERATION LETTER OF INTENT WITH RUSSIA COAL TRADE COMPANY
In the recent days, Gao Shiqiang, deputy manager of Yudean Group Co., Ltd. went and carried out the friendly talks with SUEK and inked the trade co- ...
Thursday, 24 September 09
ANGLO EYES DOUBLED METALLURGICAL COAL OUTPUT BY 2018
Mining group Anglo American could double its production of coal used for steel making by 2018 if all of its unapproved projects went ahead, the comp ...
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- IHS Mccloskey Coal Group - USA
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- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- White Energy Company Limited
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- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
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- Alfred C Toepfer International GmbH - Germany
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- San Jose City I Power Corp, Philippines
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- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
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- Electricity Generating Authority of Thailand
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- Wilmar Investment Holdings
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- Parliament of New Zealand
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- The University of Queensland
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- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
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- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
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- Agrawal Coal Company - India
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- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
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- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
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- PowerSource Philippines DevCo
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- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Central Electricity Authority - India
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- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
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- Australian Coal Association
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- Indian Oil Corporation Limited
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- ASAPP Information Group - India
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- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- New Zealand Coal & Carbon
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- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
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- Attock Cement Pakistan Limited
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- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
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- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
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