UltraTech to possess Century Textiles cement business
Aditya Birla Group’S UltraTech said it would buy the cement business of BK Birla Group Company Century Textiles and Industries. The same would happen through a share swap deal for an enterprise value of Rs 8,621 crore, a move which would further consolidate its position as market leader in the segment. Both the companies’ board approved the merger.
The cement business consists of three integrated units in Madhya Pradesh, Chhattisgarh, Maharashtra and a 2mt grinding unit in Bengal. This trade would bring UltraTech the opportunity to further strengthen its presence in the east and central markets and extending its footprint in the Western. Other advantages include ready to use assets with a strong distribution network, availability of land, railway and other infrastructure.
UltraTech’s operations span across India, UAE, Bahrain, Bangladesh and Sri Lanka. Also it’s one among India’s leading grey cement exporter.