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Construction : Newsmakers | December 2018 | Source : CW-India

SMART DEALER

KK Maheshwari, Managing Director, UltraTech Cement, is currently the talk of the town. With him leading the front, the Aditya Birla Group company is all set to incorporate Binani Cement (BCL) as its wholly-owned subsidiary. UltraTech has reportedly acquired Binani Cement's 6.25 mtpa plant in Rajasthan, including an integrated cement unit and a split grinding unit, for Rs 80.2 billion. Also, the acquisition gives the company an access to superior-quality limestone reserves.

As reported, Binani's subsidiaries in China and the UAE also stand transferred to UltraTech. The move has been made on account of these factors and synergies that will stem from it. These reportedly include economies of scale, optimisation of costs, both in manufacturing and logistics, coupled with a wider distribution network. Furthermore, under Maheshwari's guidance, UltraTech's network has grown to 50 plants across India. The company's overall capacity is currently at 98.75 mtpa, with additional 4 mtpa being commissioned. With such a huge acquisition, Maheshwari has all reasons to cheer while UltraTech Cement is charting its growth path.

 
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