Displaying items by tag: Sagar

India: Sagar Cements cement production in October 2015 rose by 3% year-on-year to 96,247t and its cement sales rose by 7% to 99,918t.

India: Accord Fintech has said that Sagar Cements' cement production for June 2015 rose by 0.82% to 1.31Mt compared to 1.29Mt in June 2014. Its cement dispatch for June 2015 rose by 0.66% to 1.31Mt compared to 1.30Mt in June 2014.

India: Sagar Cements has reported that in May 2015 it produced 1.59Mt of cement, up by 14.1% year-on-year. In the same month it dispatched 1.51Mt of cement, up by 13.2% year-on-year.

India: Sagar Cements expects to commission its US$18.7m, 7km private railway line in July 2015.

"The company had already received its first train and full commercial operations will begin after safety checks by the end of July 2015," said executive director S Sreekanth Reddy. The railway line is likely to boost the company's market reach and slash its freight costs.

The line will connect Sagar's cement plant near Matampally in Nalgonda, Andhra Pradesh, with the main railway line. It will provide cheaper inward and outward freight. "We expect to save US$1.56 – 1.87m/yr with the inward freight," said Reddy.

India: According to the Business Standard, BMM Cements (BCL) plans to raise US$33m from the International Finance Corporation (IFC) to fund its turnaround.

Currently part of Bharat Mines & Minerals group (BMM group), BCL shareholders in November 2014 had agreed to transfer ownership to Sagar Cements Limited (SCL). After the transfer, BCL will become a wholly-owned subsidiary of SCL.

SCL has 2.75Mt/yr of cement capacity spread across two plants in Matampally and Pedaveedu, both in Nalgonda, Telangana. BCL has a 0.95Mt/yr of integrated cement plant in Anantpur, Andhra Pradesh. Due to various internal and external constraints, the capacity utilisation of the plant has been low since inception and it has been incurring losses.

India: Sagar Cements has received final approval for the acquisition of the 100% equity stake in BMM Cements, which owns a 1Mt/yr capacity cement plant and a 25MW captive thermal power plant in Gudipadu, Andhra Pradesh.

India: Sagar Cements is planning to acquire BMM Cements, which has a 1Mt/yr cement factory and a 25MW captive power plant in Andhra Pradesh. Sagar intends to use the US$70.5m it has raised by selling a 47% stake in France's Vicat for the acquisition.

India: The board of directors of Sagar Cements Ltd (SCL) has approved the company's move to acquire a 100% stake in BMM Cements Ltd, which owns a 1Mt/yr capacity cement plant and other assets in Andhra Pradesh. The proposed acquisition will take SCL group's total cement capacity to 3.75Mt/yr from the existing capacity of 2.75Mt/yr.

BMM has an enterprise value of US$88.4m, 155Mt of limestone reserves and a 25MW captive power plant. The deal size is currently unknown, although SCL will take over BMM's debt.
"The proposed acquisition of BMM Cements comes at an opportune time wherein the demand environment and pricing in our region of operations looks encouraging," said Srikanth Reddy, executive director of SCL. "The two companies are wholly complementary geographically, with considerable potential for synergies."

India: Sagar Cements is reportedly planning to acquire cement business of Bangalore-based BMM Ispat Group. The deal is expected to be closed within two weeks with an approximate value of US$82.2m.

India: Sagar Cements has completed the sale of its 47% stake in its joint venture company, Vicat Sagar Cement. Sagar had earlier obtained approval from the shareholders through postal ballot for the sale. Sagar and Vicat entered into the joint venture in June 2008 with the objective of setting up a 5.5Mt/yr cement plant in Gulbarga, Karnataka. The first phase of the plant, which was to reach a production capacity of 2.75Mt/yr, was completed in December 2012. Production commenced in January 2013.