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| Aditya Birla Group closes Columbian Chemicals deal |
| Business Standard: June 22, 2011 |
Mumbai: The Aditya Birla Group on Tuesday said that it has completed the acquisition of the Atlanta based Columbian Chemicals CompanyThe acquisition which catapults the Aditya Birla Group to the world’s top carbon black producer, was made at Rs 3937 crore ($875 million) and has been completed subsequent to having obtained all regulatory approvals, the company said in a press statement.The group is expecting synergies in excess US $50 million from the deal.
The Board of Directors for Columbian Chemicals will be chaired by Kumar Mangalam Birla, Chairman, Aditya Birla Group. Other Directors on the Board will include Rajashree Birla, Rajiv Dube, Santrupt Misra, D D Rathi and Kevin Boyle, CEO, Columbian Chemicals.
“The Carbon Black business is a significant global business in our portfolio. Columbian Chemicals’ excellent research and development capability, multiple speciality products, will add to the strength of the Carbon Black business. Likewise, our strength in scale economies, managing large capacity plants and managing multiple emerging markets, will be leveraged,” said Kumar Mangalam Birla.
The acquisition will double the group’s capacity from 1 million tonnes to 2 million tonnes and expand the group’s global footprint to 12 countries — India, Thailand, Egypt, China, USA, Brazil, Korea, Spain, Canada, Hungary, Germany and Italy — where the company collectively has 17 state-of-the-art manufacturing units.
The deal will also give the company a foothold in the mature markets of North America and strengthens our position in Europe and in emerging markets.Aditya Birla Group is a global provider of high quality carbon black additives that cater to the requirements of leading tyre and other rubber manufacturers. Its products also service the ink and plastic segments.
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| L&T wins Rs 1,366-cr power projects in Gulf region |
| The Hindu Business Line: June 21, 2011 |
Mumbai: Larsen & Toubro has bagged EPC (engineering, procurement and construction) orders from member-countries of the Gulf Cooperation Council (GCC) totalling Rs 1,366 crore.This includes construction of a 225-km overhead transmission line and laying 66-km of underground cables, including eight substations.
Larsen & Toubro Saudi Arabia LLC, a fully owned subsidiary of L&T, has secured an order worth Rs 597 crore from the Saudi Electricity Company for construction of 225 km of a 380-kV transmission-line project. This project will feed power to the Haramain high-speed railway system which will link Medina and Mecca via Jeddah in Saudi Arabia.L&T's work involves engineering, supply, installation and commissioning of towers, conductors, insulators and fittings. The project is scheduled for completion in 24 months.Two EPC orders amounting to Rs 497 crore are from the UAE. Of this, a Rs 422-crore order from Abu Dhabi Ports Company (ADPC) is for the construction of five medium-voltage substations and laying associated cables of 33 kV for the Khalifa Port and Industrial Zone Project. This is to be completed in 18 months.
L&T is also involved in building three substations, including laying of 230 km of cables of 33 kV, at the Khalifa port.Dubai Electricity & Water Authority has awarded L&T a Rs 75-crore order for laying cables 132 kV other works.L&T has also secured a Rs185-crore contract from Qatar General Electricity & Water Corporation for engineering, supply, installation, testing and commissioning of 66 km of 220 kV underground cables. LThis is the first 220-kV cable order for L&T in Qatar.L&T (Oman) LLC — a joint venture of L&T in Muscat — has secured a Rs 87-crore order for three medium-voltage substations and 33-kV cable work from Muscat Electricity Distribution Company.
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| Amul to set up facilities in US & Europe |
| The Economic Times: June 27, 2011 |
Ahmedabad: Cooperative dairy giant Amul is aiming to expand its presence out of India. It is considering to open a processing facility in US and subsequently Europe market.The representatives of Kaira District Co-operative Milk Producers' Union Limited that operates 65 year old Amul Dairy are likely to visit US next month to shape its ambitious plans to go international. The delegation will prepare a detailed report for costs and logistics.
Currently, apex marketing body of 13 district unions, including Kaira Union, Gujarat Cooperative Milk Marketing Federation Limited (GCMMF) is exporting Amul and Sagar dairy products in middle east, Europe and US. "Considering presence of a million Indian families in US, we are anticipating market for at last 500 tonne of Ghee. Today, GCMMF exports only 500 tonne of ghee per annum.
There is a wide scope to produce and market other dairy products locally in US as brand Amul is preferred by Indians even overseas," said Amul Dairy MD Rahul Kumar. He added that Amul Dairy will procure white butter and raw milk from local cooperative dairies to cater to American market. Kaira Union that markets milk and milk products in Gujarat, Maharashtra and West Bengal clocked turnover of Rs 2,111 crore during fiscal 2010-11, up by 25% over the previous fiscal.Mr Kumar stated that Kaira Union is now aiming to achieve sales revenue mark of Rs 2,500 crore during current fiscal. On Saturday, talking to farmers, Kaira Union chairman Ramsinh Parmar said: "There are great potential in Europe and US for Amul products and plans are afoot to establish our own manufacturing facilities in the US initially to start with manufacturing Ghee and Paneer. Shortly we will finalise steps in this direction and establish manufacturing facilities to ensure quality dairy products are made available in these countries."
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