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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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- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
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- Star Paper Mills Limited - India
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- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
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- Singapore Mercantile Exchange
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- PTC India Limited - India
- Mercator Lines Limited - India
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- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
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- Ministry of Finance - Indonesia
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- Bulk Trading Sa - Switzerland
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- Economic Council, Georgia
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- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
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- IHS Mccloskey Coal Group - USA
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- Australian Coal Association
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
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- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
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- Power Finance Corporation Ltd., India
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- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
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- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
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- New Zealand Coal & Carbon
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- White Energy Company Limited
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- Africa Commodities Group - South Africa
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- Bangladesh Power Developement Board
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- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Minerals Council of Australia
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- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
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- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
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- Energy Link Ltd, New Zealand
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- PowerSource Philippines DevCo
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- Siam City Cement PLC, Thailand
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- The University of Queensland
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
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- Parry Sugars Refinery, India
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- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
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- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
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- Sarangani Energy Corporation, Philippines
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- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
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- Rashtriya Ispat Nigam Limited - India
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- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
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- Planning Commission, India
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