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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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Wednesday, 11 November 09
INDIAN COAL IMPORT FROM SA IN OCTOBER
Reuters reported that India imported 2.4 million tonnes of coal from South Africa's Richards Bay Coal Terminal in October 2009, 35% of the total of ...
Wednesday, 11 November 09
INDONESIA ASKS DOMESTIC COAL FIRMS TO SET ASIDE 30PCT OF OUTPUT
Indonesian government said that it had asked domestic coal producers to set aside 30% of their output next year to meet demand from new coal fired p ...
Wednesday, 11 November 09
MINING ACQUISITIONS BECOMING MORE STRATEGIC - E&Y
Mining Weekly reported that, Although miners around the world are looking to position themselves for growth, companies are being more selective when ...
Tuesday, 10 November 09
THAI COAL MINER BANPU Q3 NET UP, BEATS FORECAST
Reuters reported that, Thailand's top coal miner, Banpu, said on Tuesday its third-quarter net earnings rose a higher-than-expected 22 percent, hel ...
Monday, 09 November 09
NAPOCOR DEFERS 50,000 T COAL TENDER
Top Philippine electricity producer National Power Corp. (Napocor) has indefinitely postponed a tender for supply of 50,000 tons of steam coal sched ...
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- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Australian Coal Association
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
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- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- The University of Queensland
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Planning Commission, India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
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- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
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