CHANGING THE RULES OF THE CEMENT GAME
Article Abstract:
Lafarge of France has recently acquired Tata Iron and Steel Company's (Tisco) 1.73 million tonnes per annum (tpa) cement plant at Jojobera in Bihar for Rs550 crore. With this acquisition, it has become the first foreign company to enter into the Indian cement industry. Lafarge's acquisition will encourage many multinationals seeking entry into the Indian market. Lafarge has targeted 50 percent of its turnover from cement business from emerging countries like India. According to Lafarge, cement consumption in India is expected to increase from 80 million tonnes per annum (tpa) to 180 million tpa by 2008 AD. The acquisition of Tisco's unit will help Lafarge establish its presence in the eastern part of India. The plant gives Lafarge access to markets in both Bihar and West Bengal. The plant has a 21 percent market share in the eastern region. Lafarge is also exploring possibilities of acquiring the one million tonne Kalyanpur cement plant and 50,000 tonnes Idcol plant. (gs)
Publication Name: BusinessWorld
Subject: Business, international
ISSN:
Year: 1999
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RING OUT THE OLD, RING IN THE NEW
Article Abstract:
Among the 45 new entrants to the Top 100 Companies List, Gujarat Ambuja Cement has secured 27th place. Its managing director Narotam Sekhsaria along with partner Suresh Neotia set up the company in 1986. In 10 years, Sekhsaria has made it the best cement company with a market capitalisation of Rs2,235 crore which is very close to its competetor Associated Cement Companies' capitalisation of Rs2,313 crore. The secret as revealed by him was he never made money for himself from the companies. If he had not invested his Rs4 crore in Ambuja he would have earned Rs5 crore whereas today Ambuja is worth Rs600 crore. This is the main reason for the new companies moving into the Top 100 List and the old companies fading away from the list. (um)
Comment:
Is listed to the Top 100 Companies, securing 27th place, & is listed as the best cement company in India
Publication Name: BusinessWorld
Subject: Business, international
ISSN:
Year: 1998
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BIG BIRLA, JR COMES OF AGE
Article Abstract:
Kumar Mangalam Birla has appointed the Boston Consulting Group of the US to help restructure his group. The Aditya Birla Group is the world's largest player in the viscose staple fibre segment with a capacity of 360,000 tonnes. It is the country's largest producer of aluminium with a capacity of 2.42 million tonnes and the second largest producer of cement with a capacity of 10.65 million tonnes. The group has decided to concentrate on core businesses and hive of the unrelated ones. It has decided to reshuffle businesses between Indian Rayon and Grasim and very few investments in new businesses. It has decided to consolidate its existing businesses and plough back money into them. It has planned to build strong brands and grow through acquisitions and takeovers. (khr)
Publication Name: BusinessWorld
Subject: Business, international
ISSN:
Year: 1998
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