Displaying items by tag: Dalmia

India: Dalmia Bharat has merged OCL India Limited and Dalmia Cement East Limited ‘Bokaro’ with Odisha Cement Limited. The resulting company will be called OCL India Limited. It has also amalgamated Adhunik Cement with Dalmia Cement (Bharat) Limited (DCBL) and transferred the power assets in Dalmia Cement Bharat Power Ventures Limited to DCBL.

In a statement the Indian cement producer added that the move would simplify its corporate structure leading to significant unrealised benefits. It added that following the consolidation OCL will become the largest Portland slag cement producer in India.

In early March 2016 Dalmia Bharat received approval from the Competition Commission of India to acquire a 15% stake in its subsidiary Dalmia Cement Bharat from private equity firm KKR for over US$181m in a cash and stock deal. After the purchase, Dalmia Cement Bharat became a wholly-owned subsidiary of Dalmia Bharat.

Dalmia Bharat runs cement and power businesses. The group has a presence in southern and eastern India, including the northeast. Dalmia Bharat has a cement production capacity of 25Mt/yr.

India: Dalmia Bharat has received approval from the Competition Commission of India (CCI) to acquire a 15% stake in its subsidiary Dalmia Cement Bharat from private equity firm KKR for over US$181m in a cash and stock deal. After the purchase, Dalmia Cement Bharat will become a wholly-owned subsidiary of Dalmia Bharat.

Dalmia Bharat provides management services to the group companies belonging to the Dalmia Bharat group, owns intellectual property such as trade names for its group companies and holds shares in the group companies, either on its own or through its subsidiaries. Dalmia Cement Bharat produces cement and it also makes refractories.

India: The Oriental Bank of Commerce has raised allegations of ‘mismanagement and siphoning of public money’ at Calcom Cement in a letter sent to its lenders, according to Business Line. The bank was quoting allegations made by Bawri Group.

Together Bawri Group and Dalmia Bharat Group run Calcom Cement, a 2.1Mt/yr cement plant in Assam, as a joint venture. Dalmia Bharat owns a 76% stake in Calcom through its subsidiary Dalmia Cement Bharat.

The letter, dated 14 January 2016, was addressed to Axis Bank, lead lender in a consortium of lenders to Calcom. It stated that, “affairs at CCIL (Calcom) are not being managed in a prudent manner and (there have been) several financial irregularities including fund diversion through circular transactions.” Axis Bank declined to comment on an individual account. Dalmia Bharat said it would not speak to the media, pending arbitration proceedings with the Bawri group.

India: Dalmia Bharat Cement expects to improve its share of cement sales from south India by entering the Karnataka market.

"As we enter the lucrative Karnataka market, we expect to do well. The southern region has already witnessed 1.2% growth over the last year compared to the industry's country-wide sales growth of around 5%," said Mahendra Singhi, Dalmia Bharat Cement's CEO.

Dalmia Bharat Cement has commenced operations at its US$200m, 2.5Mt/yr greenfield cement plant in Belgaum and launched its 'superior grade cement' in the Karnataka market. Karnataka accounts for 5% of the total Indian cement market. "The company has engaged 300 dealers in the region, who will be supported with end-to-end marketing, technical and logistics support," said Singhi.

The plant in Karnataka is Dalmia Bharat Cement's 11th manufacturing plant in the country, making it the third-largest cement group in India with 24Mt/yr capacity. "We have a strong market presence in super-specialty cements used for oil wells, railway sleepers and air strips and are the country's largest producer of slag cement," said Singhi.

India: Dalmia Cement Bharat plans to increase its market presence in Goa as part of its Indian expansion. The Goa market will be catered to by its newly-commissioned, US$201m, 2.5Mt/yr plant in Belgaum, according to M K Swaminathan, Executive Director - Sales.

Cement consumption in Goa is expected to receive a boost from ongoing infrastructure projects and demand will likely grow by 5 – 6% in the coming year. To grab a larger market share, Dalmia Cement has started beefing up its dealership network in the state through talks with 15 dealers initially. The company will support them with end-to-end marketing, technical and logistics support.

India: Dalmia Cement Bharat says that it is engaging with dealers in the Maharashtra region to market its new 'superior grade' Dalmia Ultra Cement. "Dalmia Cement is engaging with over 800 dealers in the region, who will be supported with marketing, technical and logistics support," said the company in a statement. Group CEO Mahendera Singhi said that the launch would 're-define product quality parameters,' in the market.

Dalmia Cement Bharat started operations at its greenfield cement plant in Belgaum district, Karnataka in March 2015. The US$205m plant has a total capacity of 2.5Mt/yr and caters to the needs of customers in Maharashtra and Karnataka.

Sri Lanka: Dalmia Cement (Bharat) Limited is increasing its exports to Sri Lanka through its channel partner M/s Smart Dragon Lanka Pvt Limited. With a total capacity of 20Mt/yr, Dalmia Cement has cement plants in southern and eastern India, making it a prominent manufacturer of cement in India.

Dalmia Cement currently supplies cement to the Sri Lankan market from its 3.5Mt/yr plant in Dalmiapuram, Trichy, Tamil Nadu. The plant has 21 silos, making it convenient to store many varieties of cement. It can also supply Sri Lanka from its 2.5Mt/yr plant in Kadappa, Andhra Pradesh. The plants use the ports of Tuticorin and Chennai in Tamil Nadu and the port of Krishnapatnam in Andhra Pradesh.

"Dalmia Cement has been exporting cement to Sri Lanka since 2009. We wish to strengthen our bond and relationship with Sri Lanka by providing superior-quality cement, with a vision of becoming one of the leading exporters of cement to the country within the next three years," said R Sanjay, assistant executive director of institutional sales at Dalmia Cement.

India: Dalmia Cement has commissioned its 7000t/day greenfield cement plant, 5000t/day clinker plant and a coal-based power plant at Yadwad, Belagavi, Karnataka. Out of the total 40MW of power production capacity, 27MW has been commissioned and the remaining capacity will be commissioned in the future.

India: Dalmia Cement (Bharat) has commenced trial production at its 2.5Mt/yr greenfield cement plant in Karnataka. When commissioned, the plant will take the group's capacity to 24Mt/yr. "Dalmia Cement, a subsidiary of Dalmia Bharat Ltd, has commenced trial production at its new cement plant in Belgaum, Karnataka on 23 March 2015," said Dalmia Cement in a statement.

India: Dalmia Cement has raised its stake holding in OCL India from 48% to 74.6% through an inter-se share transfer within the promoter group. It acquired a 4.13% stake from Mridu Hari Dalmia and a 22.45% stake from Mridu Hari Dalmia Parivar Trust at a share price of US$10.9 though open market transactions. The deal is worth US$165m. Since the deal involves inter-se transfer, it will not trigger an open offer for OCL India, despite breaching the creeping acquisition limit of a listed firm.

As part of consolidation and growth of the cement sector, Dalmia Bharat Group has been strategically acquiring assets and creating new assets in southern, eastern and northeastern India. OCL India has plants in Odisha and West Bengal. With Dalmia Cement increasing its stake in OCL India, Dalmia group will have 48% of its capacity in south India and the remaining 52% in east and northeast India.

"The move will help to create better operational synergies. It is a step forward in the commitment towards aligning all stakeholders' interests and overall value creations," said Dalmia Bharat. Dalmia Group expects to have a total capacity of 24Mt/yr in the 2015 – 2016 financial year through both greenfield and brownfield projects.