India: LafargeHolcim's 11 million tonne/year capacity to be sold

LafargeHolcim's entire 11 million tonne per annum annual capacity in India is being sold, it is reported. The latest development comes after the Switzerland-based cement company's deal with Birla Corporation (BCL) to sell 5.1 million tonne/year capacity in the country hit a roadblock. As announced on 4 February 2016, LafargeHolcim and BCL were no longer in talks for the sale of the Sonadih and Jojobera cement plants in eastern India. Lafarge India’s decision to cancel the deal, however, has not be

February 5, 2016 Read time: 2 mins

8161 LafargeHolcim's entire 11 million tonne per annum annual capacity in India is being sold, it is reported.

The latest development comes after the Switzerland-based cement company's deal with Birla Corporation (BCL) to sell 5.1 million tonne/year capacity in the country hit a roadblock.

As announced on 4 February 2016, LafargeHolcim and BCL were no longer in talks for the sale of the Sonadih and Jojobera cement plants in eastern India.

725 Lafarge India’s decision to cancel the deal, however, has not been accepted by BCL.

The company is now taking legal measures in consultation with lawyers.

The merger of 4380 Ambuja Cements and 4577 ACC, which are 680 Holcim's units, and Lafarge India, would allow it to become the dominant player in east India.

Lafarge had been directed by the Competition Commission of India to sell its units there. Following that, Lafarge and BCL sealed an agreement for the sale of the Sonadih and Jojobera plants.

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LafargeHolcim considers revised divestment of interest in Lafarge India

LafargeHolcim says it is considering a revised divestment of its interest in Lafarge India, which has an annual cement capacity of around 11 million tonnes. The divestment would require the approval of the Competition Commission of India (CCI) as an alternate remedy for the merger of the Group’s legacy companies.

The Group is no longer in discussion with Birla Corporation Limited (BCL) for the sale of the Jojobera and Sonadih cement plants in Eastern India. The BCL proposal involved the divestment of 5.1

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LafargeHolcim enters agreement with Nirma to divest Lafarge India

LafargeHolcim has entered into a letter agreement with Nirma subject to approval by the Competition Commission of India (CCI) for the divestment of its interest in Lafarge India for an enterprise value of approximately US$1.4 billion (approximately €1.3 billion).

Lafarge India operates three cement plants and two grinding stations with a total capacity of around 11 million tonnes/year. The company also markets aggregates and is one of India’s leading ready-mix concrete manufacturers. The proceeds from th

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LafargeHolcim enters into assets divestment agreement with Birla Corporation

LafargeHolcim has entered into a letter agreement with Birla Corporation for the €691 million (INR 50 billion) divestment of some of its Indian assets as part of the merger of its legacy companies.

The proceeds from the sale of the divestment business, which is subject to approval by the Competition Commission of India (CCI), will be used to further reduce debt.

As announced in April 2015, LafargeHolcim has received conditional clearance from the CCI for the merger. In that context, a package of asse

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Minerals aid India’s fast-growing economy

An investment of over US$500 million in a new tyre plant is a signal that Indian company BKT intends to meet its ambitious global targets over the next few years.

It sees major growth coming in the mining and quarrying markets and is hoping that eventually 40-50% of its income will be from this business. The recent huge investment at its Bhuj, northern India plant (see separate story), is part of increasing spending in the nation, which is already the second largest user of aggregates behind China.