Strategic Dealer

KK Maheshwari, Managing Director, UltraTech Cement, is driving acquisitions at his company. UltraTech has received approval from the Competition Commission of India to acquire the cement business of Century Textiles and Industries. Maheshwari-led UltraTech wants to further strengthen its status as a market leader in the segment through this move. Interestingly, through this acquisition, the company will reportedly look to consolidate its presence in the east and central markets, and expand its stronghold in the western and southern markets in the country. Century Textiles has three integrated cement plants - in Chhattisgarh, Madhya Pradesh and Maharashtra - with a total capacity of 11.4 mtpa, in addition to a grinding unit in West Bengal of 2.0 mtpa. Following this acquisition, UltraTech will be the beneficiary of all these units. The move is certainly a master stroke on Maheshwari's part in UltraTech's race to further enhance itself in being an undisputed player in the cement segment.