India’s Ultratech in talks to acquire Orient Cement

OrientCement Chittapur

India’s UltraTech, led by Kumar Mangalam Birla, is in advanced talks to acquire Orient Cement Ltd (OCL) from CK Birla. OCL began cement production in the year 1982 at Devapur in Telangana. In 1997, a split-grinding unit was added at Jalgaon in Maharashtra and in 2015 an integrated cement plant (photo) at Chittapur in Karnataka. Now, the clinker manufacturing capacity is 5.5 Mta, the cement capacity is 8.5 Mta. UltraTech’s offer translates to an enterprise value of U$ 840-$938 million or $109-110 per ton based on the current installed capacity. Neither UltraTech nor Orient Cement have commented on the offer.