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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, 23 October 09
CIL PRICE HIKE LIKELY TO PUSH POWER RATES UP
Business-Standard reported that, May squeeze cement companies’ margins, but the steel sector is unlikely to be affected much.
The upward re ...
Thursday, 22 October 09
2ND UNITED INDONESIA CABINET UNVEILED
The Jakarta Post reported that, President Susilo Bambang Yudhoyono announced his second United Indonesia Cabinet on Wednesday night, comprising 34 m ...
Thursday, 22 October 09
PEABODY SET TO TAP ASIAN DEMAND FOR COAL
The Australian reported that, US coal giant Peabody Energy plans to double its Queensland and NSW coal exports in the next five years, as it looks t ...
Wednesday, 21 October 09
INDONESIA POWER FIRM SEEKS TO DEFER COAL SUPPLIES
Reuters reported that, Indonesia's state power firm is negotiating with two coal producers, including a unit of PT Bumi Resources Tbk, to defer a c ...
Wednesday, 21 October 09
MINING REGULATION GENERATES CONFUSION IN INDONESIA
The Jakarta Globe reported that, Mining industry representatives said on Friday they were confused by a recently issued regulation restricting the w ...
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- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- The University of Queensland
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Australian Coal Association
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Planning Commission, India
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
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