UltraTech considers buying stake in Kenya’s ARM Cement
Published by Joseph Green,
Editor
World Cement,
UltraTech Cement is considering buying a controlling stake in ARM Cement of Kenya. UltraTech is backed by Indian billionaire Kumar Mangalam Birla.
ARM announced on 23 December that it is in talks with an unidentified institutional investor concerning a US$125 million investment.
UltraTech Cement is the largest producer of grey cement, ready mix concrete and white cement in India and is also one of the leading manufacturers of the commodities globally.
The company has an installed capacity of 67.7 million tpy of grey cement, with 12 integrated plants and 18 grinding units.
Its operations cover India, UAE, Bahrain, Bangladesh and Sri Lanka and South Africa.
Edited from sources by Joseph Green. Sources: Live mint, Business Standard, Footprint to Africa
Read the article online at: https://www.worldcement.com/africa-middle-east/13012016/ultratech-considers-buying-stake-kenya-arm-cement-311/
You might also like
The World Cement Podcast - What's next for US Cement?
In this episode of the World Cement Podcast, we are joined by Mike Ireland, President and CEO of the ACA or American Cement Association. Listen in as Mike and David dive into a range of topics, including the ACA’s recent rebranding efforts, decarbonisation, policy and legislation, and the impact of AI on cement demand.
Tune in to the World Cement Podcast on your favourite podcast app today.
