Latest news with #AdityaBirla
Time of India
20 hours ago
- Business
- Time of India
India Cements to sell its subsidiary Industrial Chemicals
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel New Delhi: India Cements Ltd (ICL), owned by the Aditya Birla group , on Saturday said it will sell its subsidiary Industrial Chemicals and Monomers to Mirai Sensing The board of the company has approved the sale with a consideration of Rs 97.68 crore, ICL said in a regulatory filing "Upon completion of the said sale, ICML would cease to be a subsidiary," ICL company shall enter into an agreement with Mirai Sensing Pvt Ltd, the proposed buyer, upon finalisation of terms, it expects the sale to be completed within six months from the date of the the country's leading cement maker, in December last year acquired the promoter's stake in the south-based cement ICL had become a subsidiary of UltraTech Cement with effect from December 24, 2024.
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Business Standard
12-06-2025
- Business
- Business Standard
Asian Paints shares rise 3% after large deal in pre-open; all details here
Asian Paints share price gained 2.5 per cent in trade on Thursday, June 12, 2025, logging an intraday high at ₹2,263.95 per share on BSE. The buying on the counter came after a large deal took place in the pre-opening session. At 9:57 AM, Asian Paints shares were trading 2.06 per cent lower at ₹2,254 per share on the BSE. In comparison, the BSE Sensex was down 0.12 per cent at 82,412.64. The company's market capitalisation stood at ₹2,16,203.18 crore. Its 52-week high was at ₹3,394 per share and 52-week low was at ₹2,125 per share. Asian Paints block deal details According to data available on Bloomberg, 35 million shares changed hands in a single block deal on NSE in the market pre-opening session. This accounted for 3.65 per cent of equity. Block changed hands at ₹2,201 per share against last close of ₹2,208.8 per share. Buyers and sellers of the deals were not disclosed. As of quarter ending March 2025, India's mutual funds have a 5.67 per cent stake in Asian Paints at the end of the March quarter, with ICICI Prudential Mutual Fund holding at 1.24 per cent and SBI Mutual Fund at 1.51 per cent. Besides, Life Insurance Corporation of India holds 8.29 per cent stake in the company. The complaint was filed by Aditya Birla group in November last year, alleging that Asian Paints, which is the market leader with 53 per cent market share, had indulged in anti-competitive conduct and exclusionary practices. The allegations included restricting dealers from doing business with Grasim's Birla Opus. Grasim is a flagship company of the Aditya Birla group. It was also alleged that Asian Paints had put pressure on raw material suppliers to deny (supplies) or price-discriminate against Birla Opus.
Time of India
06-06-2025
- Business
- Time of India
Aditya Birla Group acquires Cargill's speciality chemical manufacturing facility in US, ET Manufacturing
Advt Advt Business conglomerate Aditya Birla Group has acquired Cargill 's speciality chemical manufacturing facility in Dalton, a statement on Thursday, the group announced the expansion of its US Advanced Materials business with the acquisition of Cargill Incorporated's 17-acre speciality chemical manufacturing facility in Dalton, acquisition continues Aditya Birla's expansion in the US' manufacturing sector, a key aspect of Aditya Birla's growth strategy, which now totals over $15 billion in acquisition was executed through Aditya Birla Chemicals (USA) Inc., a wholly-owned subsidiary of Aditya Birla Chemicals (Thailand) Ltd."This acquisition represents Aditya Birla's strategic entry into the US chemicals industry, extending the business model of our other successful manufacturing businesses in the United States, including Novelis and Birla Carbon," said Kumar Mangalam Birla, Chairman of Aditya Birla Group."Our growth strategy in the United States is anchored in a commitment to leverage our deep manufacturing expertise to support the revitalisation of the growing American manufacturing sector. We look forward to investing in and expanding this foundational facility and identifying other strategic assets to drive growth."With this acquisition, the advanced materials business welcomes 50 business plans to expand the facility's current capacity of 16,000 tonnes per year to over 40,000 tonnes over the next two Birla Group will continue to manufacture the plant's current output of formulated resins, curing agents, reactive diluents and polyaspartic resins for the marine, industrial coatings, and flooring industries, which include epoxy resins, modifiers, curing agents, and other specialty chemicals sold under the brands CHEMCURE, ChemMod, Altor, Acme Shield, and ChemRes Additionally, it will introduce products for the automotive, renewable energy and aerospace industries, including its patented chemistries to enable recycling of epoxy composites used in wind, sports goods, pressure vessels and other applications."This acquisition reinforces our commitment to expanding our Advanced Materials business in the United States and globally. Establishing a local presence in the US will enable us to serve regional customers more efficiently and collaborate closely to develop tailored solutions."We are excited to leverage this facility to enhance its capabilities and broaden our product offerings for our customers," said Rajesh Balakrishnan, CEO of Aditya Birla Group, Advanced Materials business.
Fibre2Fashion
06-06-2025
- Business
- Fibre2Fashion
Aditya Birla Group acquires Cargill's US specialty chemicals facility
Aditya Birla Group, a leading Indian multinational conglomerate and the largest Indian investor in the United States, announced the expansion of its U.S. Advanced Materials business with the acquisition of Cargill Incorporated's 17-acre specialty chemical manufacturing facility in Dalton, Georgia. The acquisition continues Aditya Birla's expansion in the United States' manufacturing sector, a key aspect of Aditya Birla's growth strategy, which now totals over $15 billion in investment. Aditya Birla Group has acquired Cargill's 17-acre specialty chemical plant in Dalton, Georgia, expanding its US Advanced Materials business. The move adds 50 employees, with plans to boost capacity from 16,000 to over 40,000 tons. The facility will serve marine, coatings, and flooring industries, while also targeting automotive, renewable energy, and aerospace sectors. 'This acquisition represents Aditya Birla's strategic entry into the U.S. chemicals industry, extending the business model of our other successful manufacturing businesses in the United States, including Novelis and Birla Carbon,' said Mr. Kumar Mangalam Birla, Chairman of Aditya Birla Group. 'Our growth strategy in the United States is anchored in a commitment leverage our deep manufacturing expertise to support the revitalization of the growing American manufacturing sector. We look forward to investing in and expanding this foundational facility and identifying other strategic assets to drive growth.' With this acquisition, the Advanced Materials business welcomes 50 employees. The business plans to expand the facility's current capacity of 16,000 tons per year to over 40,000 tons over the next two years, affirming the business's commitment to local operations and job creation. The acquisition was executed through Aditya Birla Chemicals (USA) Inc., a wholly owned subsidiary of Aditya Birla Chemicals (Thailand) Ltd. "This acquisition by our Advanced Materials business will strengthen cooperation with customers in developing next-generation products,' said Mr. Jayant Dhobley, Business Head of CFI, Aditya Birla Group, 'We remain committed to further investments at this site in the coming months and will introduce advanced technologies from our global operations.' Aditya Birla Group will continue to manufacture the plant's current output of formulated resins, curing agents, reactive diluents and polyaspartic resins for the marine, industrial coatings, and flooring industries, which include epoxy resins, modifiers, curing agents, and other specialty chemicals sold under the brands CHEMCURE, ChemMod, Altor, Acme Shield, and ChemRes. Additionally, the Advanced Materials business will introduce products for the automotive, renewable energy and aerospace industries, including its patented chemistries to enable recycling of epoxy composites used in wind, sports goods, pressure vessels and other applications. "This acquisition reinforces our commitment to expanding our Advanced Materials business in the United States and globally. Establishing a local presence in the U.S. will enable us to serve regional customers more efficiently and collaborate closely to develop tailored solutions. We are excited to leverage this facility to enhance its capabilities and broaden our product offerings for our customers,' said Mr. Rajesh Balakrishnan, CEO of Aditya Birla Group – Advanced Materials business. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (HU)
Time of India
05-06-2025
- Business
- Time of India
Aditya Birla Group acquires Cargill's speciality chemical manufacturing facility in US
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Business conglomerate Aditya Birla Group has acquired Cargill's speciality chemical manufacturing facility in Dalton, a statement on Thursday, the group announced the expansion of its US Advanced Materials business with the acquisition of Cargill Incorporated's 17-acre speciality chemical manufacturing facility in Dalton, acquisition continues Aditya Birla's expansion in the US' manufacturing sector , a key aspect of Aditya Birla's growth strategy, which now totals over USD 15 billion in acquisition was executed through Aditya Birla Chemicals (USA) Inc., a wholly-owned subsidiary of Aditya Birla Chemicals (Thailand) Ltd."This acquisition represents Aditya Birla's strategic entry into the US chemicals industry , extending the business model of our other successful manufacturing businesses in the United States, including Novelis and Birla Carbon," said Kumar Mangalam Birla, Chairman of Aditya Birla Group."Our growth strategy in the United States is anchored in a commitment to leverage our deep manufacturing expertise to support the revitalisation of the growing American manufacturing sector. We look forward to investing in and expanding this foundational facility and identifying other strategic assets to drive growth."With this acquisition, the advanced materials business welcomes 50 business plans to expand the facility's current capacity of 16,000 tonnes per year to over 40,000 tonnes over the next two Birla Group will continue to manufacture the plant's current output of formulated resins, curing agents, reactive diluents and polyaspartic resins for the marine, industrial coatings, and flooring industries, which include epoxy resins, modifiers, curing agents, and other specialty chemicals sold under the brands CHEMCURE, ChemMod, Altor, Acme Shield, and it will introduce products for the automotive, renewable energy and aerospace industries, including its patented chemistries to enable recycling of epoxy composites used in wind, sports goods, pressure vessels and other applications."This acquisition reinforces our commitment to expanding our Advanced Materials business in the United States and globally. Establishing a local presence in the US will enable us to serve regional customers more efficiently and collaborate closely to develop tailored solutions."We are excited to leverage this facility to enhance its capabilities and broaden our product offerings for our customers," said Rajesh Balakrishnan, CEO of Aditya Birla Group, Advanced Materials business. PTI
