Century Textiles & Industries is reportedly planning to spin off its cement business and merge it in an all-share deal with India’s largest cement maker UltraTech. Both companies are in the final stages of a plan to merge the cement businesses.
Once approved by shareholders, the merged entity’s capacity would add up to 87 million tonnes. This would help UltraTech achieve 100 million tonne output much before its target of 2020 and allow it to take on the combined might of Lafarge and Holcim in India.
Post merger, UltraTech will gain access to the eastern market while strengthening its presence in Maharashtra, Chhattisgarh and Madhya Pradesh.
Century Textiles & Industries has wide portfolio that manufactures yarn, denim, viscose filament rayon yarn, tyrecords, caustic soda, sulfuric acid, salt, cement and pulp & paper.
