ACC, GRASIM, L&T IN THE RACE FOR TATA UNITS
Article Abstract:
Domestic cement manufacturers ACC Limited, Larsen & Toubro and Grasim Ltd are among the contenders to buy out Tata Iron & Steel Company's (TISCO) two cement units at Jojobera and Sonadih. La' Farge of France and Rugby Corporation of the UK are the two global bidders responding to TISCO's offer to sell off its cement divisions. The deal is likely to be clinched by one of the domestic cement manufacturers at a sale price between Rs450 crore and Rs480 crore. TISCO is expecting a sale price between Rs550 crore and Rs600 crore for its two cement plants having a combined capacity of about 1.8 million tonne per annum. The decision to sell off cement divisions is in line with TISCO's strategy to stick to its core competency in steel business. (tsm)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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CEMENT BUSINESS OF INDIAN RAYON VALUED AT Rs750 CR
Article Abstract:
The cement business of Indian Rayon (IR) is valued at Rs750 crore. Its debts are Rs437 crore. It has a market capitalisation of Rs313 crore. It has a grey cement production capacity of 3 million tonnes and white cement production capacity of 360,000 tonnes a year. Its cement business is valued at Rs240 crore per million tonnes of grey cement. The holders of the IR shares are likely to be allotted 3 shares of Grasim Industries for every 10 shares held in IR. (rk)
Comment:
Has grey cement production capacity of 3 mil tonnes and white cement production capacity of 360,000 tonnes a year
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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