{"id":5889,"date":"2017-06-30T02:56:01","date_gmt":"2017-06-30T02:56:01","guid":{"rendered":"http:\/\/faceinews.com\/?p=5889"},"modified":"2017-06-30T02:56:01","modified_gmt":"2017-06-30T02:56:01","slug":"ultratech-cement-completes-acquisition-of-cement-plants-of-jaiprakash-associates-limited","status":"publish","type":"post","link":"https:\/\/www.faceinews.com\/?p=5889","title":{"rendered":"UltraTech Cement completes acquisition of\u00a0Cement plants of Jaiprakash Associates Limited"},"content":{"rendered":"<p class=\"m_-3210234848290578520MsoNoSpacing\" align=\"center\"><b><span lang=\"EN-US\"><a href=\"http:\/\/faceinews.com\/wp-content\/uploads\/2017\/06\/ultra.jpg\" rel=\"attachment wp-att-5890\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-5890 size-full\" src=\"http:\/\/faceinews.com\/wp-content\/uploads\/2017\/06\/ultra.jpg\" alt=\"ultra\" width=\"315\" height=\"160\" srcset=\"https:\/\/www.faceinews.com\/wp-content\/uploads\/2017\/06\/ultra.jpg 315w, https:\/\/www.faceinews.com\/wp-content\/uploads\/2017\/06\/ultra-300x152.jpg 300w\" sizes=\"auto, (max-width: 315px) 100vw, 315px\" \/><\/a><\/span><\/b><span lang=\"EN-US\">The Scheme Implementation Committee of the Board of Directors of UltraTech Cement Limited, an Aditya Birla Group company, at its meeting held today, have made effective the Scheme of Arrangement between UltraTech, Jaiprakash Associates Limited (JAL), Jaypee Cement Corporation Limited (JCCL) and their respective shareholders and creditors, (\u201cScheme\u201d) for the acquisition of\u00a0<a name=\"m_-3210234848290578520__DV_C9\"><\/a>their six integrated cement plants and five grinding units, spread across the states of Himachal Pradesh, Uttar Pradesh, Uttarakhand, Madhya Pradesh, and Andhra Pradesh, with a capacity of 21.2 million tons. Consequently, the acquired cement plants of JAL and JCCL stand transferred to UltraTech.\u00a0<u><\/u><u><\/u><\/span><\/p>\n<p class=\"m_-3210234848290578520MsoNoSpacing\"><span lang=\"EN-US\">Says Mr. Kumar Mangalam Birla, Chairman, UltraTech \u2013 \u201c<i>This move is essentially for geographic market expansion, enabling UltraTech\u2019s entry into the high growth markets of India where it needed greater reinforcement.\u00a0 The operations will be strengthened by the process and technological up gradation and also by enhancement in capacity utilization.\u00a0 Creating synergies in manufacturing, distribution and logistics offer many advantages.\u00a0 Furthermore, economies of scale and reduced lead-time to markets, will be achieved.\u00a0 These will enhance competitiveness, benefit consumers, and, in turn, create value for all our stakeholders\u201d.<\/i><u><\/u><u><\/u><\/span><\/p>\n<p class=\"m_-3210234848290578520MsoNoSpacing\"><span lang=\"EN-US\">This transaction valued at Rs.16,189 crore ($ 2.5 bn) is the largest deal to be concluded so far, involving a major financial restructuring program, conducted by the ICICI led consortium of lenders to JAL.\u00a0 Alongside, SBI and Axis Bank actively supported this program.\u00a0<u><\/u><u><\/u><\/span><\/p>\n<p class=\"m_-3210234848290578520MsoNoSpacing\"><span lang=\"EN-US\">After the acquisition, UltraTech has 18 Integrated Plants, 1 clinkerisation unit, 25 Grinding Units and 7 bulk terminals, augmenting its Grey Cement manufacturing capacity to 93 mtpa.\u00a0 With this UltraTech becomes the 4<sup>th<\/sup>\u00a0largest cement player globally\u00a0<i>(excluding the Chinese players)<\/i>\u00a0and the largest player in India by an even larger margin.<u><\/u><u><\/u><\/span><\/p>\n<p class=\"m_-3210234848290578520MsoNoSpacing\"><span lang=\"EN-US\">The expanse of its presence in the country gives UltraTech the strategic ability to support and participate in the economic growth agenda of the Government of India<\/span><span lang=\"EN-US\">.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Scheme Implementation Committee of the Board of Directors of UltraTech Cement Limited, an Aditya Birla Group company, at its meeting held today, have made effective the Scheme of Arrangement between UltraTech, Jaiprakash Associates Limited (JAL), Jaypee Cement Corporation Limited (JCCL) and their respective shareholders and creditors, (\u201cScheme\u201d) for the acquisition of\u00a0their six integrated cement [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":5890,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[],"class_list":["post-5889","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/5889","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5889"}],"version-history":[{"count":1,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/5889\/revisions"}],"predecessor-version":[{"id":5891,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/5889\/revisions\/5891"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/media\/5890"}],"wp:attachment":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}