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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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Tuesday, 22 September 09
AUSTRALIA SEES HIGHER ASIAN THERMAL COAL IMPORTS
* Asia '09 imports to rise 3.5%, vs pvs f'cast of 3.3% fall
* Asia 2010 thermal coal imports expected to rise 6.3 pct
* China to become net im ...
Tuesday, 22 September 09
PANAMA CANAL EXPANSION MAY AID COLOMBIA COAL TO ASIA
* Colombia producers hope for growth in Asia shipments
* Panama Canal will allow smaller coal Capesize vessels
* Australia, Indonesia to remain bi ...
Monday, 21 September 09
ACCC SET TO APPROVE NEWCASTLE COAL SHIPPING AGREEMENT
ABC reported that, The competition regulator says it is likely to approve a new agreement over coal loading arrangements at Newcastle.
Australian ...
Friday, 18 September 09
PEABODY ENERGY ESTABLISHES ASIAN COAL TRADING HUB IN SINGAPORE
Peabody Energy announced it has opened an office in Singapore that will serve as the new hub for Peabody COALTRADE International activities in South ...
Friday, 18 September 09
AUSTRALIA NEWCASTLE COAL PORT: SEEKS INTERIM QUOTA SYSTEM
Reuters reported that, Australia's Newcastle coal terminal wants to re-introduce an interim export quota system after a group of miners led by BHP ...
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Showing 6411 to 6415 news of total 6871 |
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- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- White Energy Company Limited
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Latin American Coal - Colombia
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