Displaying items by tag: Dalmia Bharat

India: Dalmia Bharat Cement has made an agreement with the Piramal Bain Resurgence Fund to jointly bid for Binani Cement. The deal will see the two companies make an offer for Binani’s two plant in Rajasthan, according to the Economic Times newspaper. Binani Cement has debts of US$530m and the potential buyers are aiming to pay around US$930m. Binani Cement became insolvent following a US$110m royalty payment to state government for its limestone quarries. Other Indian cement producers, including Ultratech Cement, Shree Cement, Nirma, JSW cement and My Home Industries, have expressed interest in the cement producer.

India: Dalmia Bharat has appointed Sanjeev Gemawat as its company secretary. He succeeds Nidhi Bisaria who has resigned. Gemawat has worked for Dalmia Bharat as an executive director (legal) since 2016. Previous to this he worked for DLF Group, JCB India and Modicorp amongst other companies. A trained accountant, he is a member of the Chartered Accountants of India.

India: The Delhi High Court has rejected an appeal by Dalmia Bharat in a coal import deal with Glencore that went wrong. The cement producer will now be required to pay US$4.3m in damages and US$0.27m in interest, according to the DNA newspaper. Dalmia Cement, part of Dalmia Bharat Group, originally arranged a deal to import coal in multiple consignments. However it later refused to accept some of the shipments citing poor quality. Glencore then won damages at an arbitration tribunal that ruled that Dalmia had breached its contract.

India: Dalmia Bharat Cement has been selected as the preferred bidder for the Kesla II limestone block in Raipur District, Chhattisgarh. The block, with reserves of 215Mt, has an estimated value of US$1.6bn, according to the Hindu newspaper.

Sri Lanka: India’s Dalmia Cement Bharat has partnered with local import firm Oliver Impex to launch the Vijaya Cement brand. The SLS 107 certified product has a strength class of 42.5 N, according to the Daily News newspaper. AHM Fowzie, the State Minister of National Integration and Reconciliation, was the chief guest at the launch event.

India: Dalmia Bharat Group plans to spend US$293m towards increasing its production capacity in Odisha. The cement producer has joined the 'Make in Odisha Conclave,' according to the Press Trust of India. It has a production capacity of 5.5Mt/yr from two plants in the state. Mahendra Singhi, Group chief executive officer of Dalmia Bharat Group, said that Odisha’s gross domestic product (GDP) is expected to grow by 12% by 2020. He added that the state government's commitment to industrial development is backed by industry-friendly policies that are already showing positive results.

India: Dalmia Bharat's income has risen by 14% year-on-year to US$577m in the first half of its financial year, which ended on 30 September 2016, from US$505m in the same period of the previous financial year. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 28% to US$135m from US$105m. Its sales volumes rose by 21% to 7.18Mt from 5.95Mt. The cement producer explained that it had focused on building up existing capacity and entering new markets in Uttar Pradesh and Madhya Pradesh during the period.

India: Dalmia Bharat and OCL India have agreed to merge creating the fourth largest cement producer in the country with a production capacity of 25Mt/yr. Dalmia Bharat already owns a 75% share in OCL and the merger has been described as a move to ‘simplify the ownership’, according to Puneet Dalmia, managing director of Dalmia Bharat Group, in comments to the Economic Times.

“The merger will simplify the holding structure and create further consolidation in the cement sector,” said Dalmia. “This action further strengthens our position as one of the leading cement players in India, uniquely placed to support India’s economic growth, and demonstrates our commitment towards achieving simplification and consolidation.”

India: The refractories division of Dalmia Bharat Group has signed a memorandum of understanding for a joint venture with Seven Refractories to develop and supply a wide range of monolithic refractories for the Indian market.

“We are committed to bringing the most advanced solutions to our customers across the iron, steel and cement industries. This partnership will combine the strengths of both companies to provide customised solutions with the latest monolithic refractory technology combined with quicker deliveries and localised services,” said Sameer Nagpal, CEO-Refractories, Dalmia Bharat Group.

India: Ingo Gruber has been appointed the Executive Director, Manufacturing and Technology, of Dalmia Bharat Group’s refractories business. Gruber will be responsible for four manufacturing plants in India, one in China and the India Technology Centre.

Gruber joins Dalmia Bharat after spending 25 years in international refractory markets with experience in manufacturing, technology and process improvement. He also brings knowledge in manufacturing and technology integration strategies during mergers and acquisitions. Previously, Gruber held various leadership roles at RHI and its group companies across Europe.

The Refractory business of Dalmia Bharat Group comprises two specialty companies: OCL Refractories and Dalmia Refractories. Established in 1954 as a unit of OCL India, OCL Refractories is a leading refractory supplier to domestic and international steel plants. Set up in 1959, Dalmia Refractories, previously Shri Nataraj Ceramics and Chemical Industries, specialises in high alumina refractory bricks for the Indian cement industry.