Grasim board meets Tuesday to consolidate cement business

October 2nd, 2009 NEW DELHI - In a truncated trading week, the benchmark index of Indian equities markets crossed the 17,000-mark for the first time in 16 months. In a truncated trading week, due to two public holidays Monday and Friday, the 30-share sensitive index (Sensex) ended 441.55 points, or 2.65 percent higher, at 17,134.55 points at weekly close Thursday, as opposed to the previous week's close at 16,693 points.

September 18th, 2009 SHIMLA - The Himachal Pradesh government Friday allowed leading cement manufacturer ACC Ltd to utilise the waste exhaust kiln gases for generating electricity, according to government officials. "The government Friday allowed ACC to generate 8 MW power from kiln gases produced at its plant in Barmana.

August 25th, 2009 Cummins to consolidate filter plants, cut jobsCOLUMBUS, Ind. — Cummins Filtration, a division of diesel engine manufacturer Cummins Inc., said Tuesday it is consolidating a "significant" portion of its North American filter assembly operations into one of its Mexican plants over the next several months, meaning the loss of about 400 jobs.

July 31st, 2009 NEW DELHI - Infrastructure major Jaiprakash Associates Ltd Friday signed an agreement with Assam Mineral Development Corp (AMDC) for setting up a cement plant in the northeastern state. "The total cost for setting up this plant is estimated to be Rs.1,050 crore," the company said in statement.

July 28th, 2009 MUMBAI - Grasim, an Aditya Birla Group company with interest in cement, chemicals and textiles, Tuesday reported a net profit of Rs.1,080 crore for the first quarter this fiscal, a 61 percent jump over the Rs.672 crore it earned in the year-ago period. This included an extraordinary (non-recurring) gain of Rs.336 crore from the sale of sponge iron business, the company said in a regulatory statement.

July 28th, 2009 KOLKATA - Birla Corp, the flagship company of the MP Birla Group, Tuesday reported a 69 percent jump in its profit after tax at Rs.155.34 crore in the quarter ended June 30. "Higher realisation in cement business and sustained demand on account of stimulus announced by the government helped the company in achieving better results," it said in a statement.

July 22nd, 2009 ATC Technology to cut jobs and consolidateDOWNERS GROVE, Ill. — Vehicle remanufacturing and logistics company ATC Technology Corp.

July 21st, 2009 MUMBAI - Reliance Infrastructure has firmed up plans for a major foray into cement production and expansion of airports across the country, apart from bidding actively for major highways projects, company chairman Anil Ambani said Tuesday. Addressing the company's annual general meeting here, Ambani said a pact was signed last week with the Maharashtra Government for a five-million-tonne cement unit in Yavatmal district at investment of Rs.2,250 crore ($450 million).

June 30th, 2009 NEW DELHI - India's cement and manufacturing sectors, hit hard by the slowdown last year, are now seeing a turnaround, said a senior government official Tuesday, hoping that it would have a positive impact on other sectors as well. "The cement and manufacturing sectors are showing improvement.

June 26th, 2009 KOLKATA - Kesoram Industries plans to invest Rs.2,000 crore on capacity augmentation of its cement and tyre plants over the next 15 months, a top company official said here Friday. "Out of this, the Vasavadatta cement plant will receive Rs.750 crore to increase its capacity by 1.65 million tonnes," company chairman Basant Kumar Birla told reporters.

May 7th, 2009 KOLKATA - Birla Corp Ltd, part of the MP Birla Group, expects its cement capacity to rise to 10 million tonnes in two years from 6 million tonnes now, the company said in a release Thursday here. 'The second and final phase of expansion at the Satna plant is likely to be completed by March, following which total clinker production capacity will increase by 2,200 tonnes per day (tpd) to 9,600 tpd,' the release said.

March 20th, 2009 KOLKATA - Cement manufacturer Binani Cement is in the last stage of finalising a deal with an Indonesian coal block for long-term mining rights, a top official said here Thursday. 'We will finalise the deal very soon.

March 19th, 2009 THIRUVANANTHAPURAM - Private life insurer ICICI Prudential Life is focussing on consolidating business in Kerala rather than going for major expansion, a top official said here Wednesday. In the first 11 months this fiscal, the company's business has crossed Rs.4.05 billion (Rs.405 crore), ICICI Prudential vice-president K.S.

January 26th, 2009 KOLKATA - Cement manufacturer Birla Corp Ltd Tuesday said cement prices will come under pressure in the current and next fiscals when the expected commissioning of new facilities takes place. 'Pick-up in the demand of cement has been witnessed during the later part of December 2008, mainly on account of the revival of demand in the UP (Uttar Pradesh) and Bihar regions, and the same is likely to continue in the quarter ending March 2009,' the company said in a statement.

January 20th, 2009 CHENNAI - Lighting products manufacturer Surya Roshni plans to invest Rs.15 billion (Rs.1,500 crore) for setting up a cement mill and a steel pipe plant in Gujarat and foraying into the street light segment, a senior official said here Wednesday. 'We are mulling a cement plant in the Kutch region in Gujarat at an outlay of Rs.10 billion.