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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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Thursday, 24 September 09
S.KOREA HYUNDAI STEEL TO BUY COAL FROM SIBERIA
Reuters reported that, South Korea's Hyundai Steel said on Wednesday it will buy a maximum of 300,000 tonnes of coal per year from Siberian Anthrac ...
Thursday, 24 September 09
NO IMPORTED COAL-BASED UMPPS: TATA POWER
Will wait until policy environment becomes more favourable.
Business Standard reported that, Tata Power Company (TPC), India’s largest priv ...
Thursday, 24 September 09
BUMI RAISES $1.9 BILLION SELLING DEBT TO CHINA'S CIC
Bloomberg reported that, PT Bumi Resources, Indonesia’s biggest coal producer, said it raised $1.9 billion selling debt to China’s sover ...
Thursday, 24 September 09
MACQUARIE DOWNGRADES U.S. COAL SECTOR TO NEUTRAL
Reuters reported that, Macquarie Research downgraded the U.S. coal sector to "neutral" from "overweight" as it believes that dem ...
Thursday, 24 September 09
CHINA WILL BE IMPORTER OF COKING COAL NEXT YEAR, MCCLOSKEY SAYS
Bloomberg reported that, China, the world’s largest coal user and producer, will remain an importer of the fuel through next year, according t ...
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- The University of Queensland
- Metalloyd Limited - United Kingdom
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- Minerals Council of Australia
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- Planning Commission, India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
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- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
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- ICICI Bank Limited - India
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- Chamber of Mines of South Africa
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
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- Dalmia Cement Bharat India
- Sical Logistics Limited - India
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- Tata Chemicals Ltd - India
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- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
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- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- White Energy Company Limited
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
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- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
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- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
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- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
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- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
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- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
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- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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