Binani Cement renamed UltraTech Nathdwara

Aditya Birla Group firm UltraTech Cement on Thursday said it has changed the name of Binani Cement to UltraTech Nathdwara Cement after acquiring the debt-ridden company.

The National Company Law Appellate Tribunal had on November 14 approved the Rs 7,950-crore offer of UltraTech for the Rajasthan-based firm.

"We write to inform you that Binani Cement Ltd is now 'UltraTech Nathdwara Cement Ltd," UltraTech Cement said in a regulatory filing. The acquisition has provided UltraTech "immediate earnings with ready to use assets" which are operating at 50 per cent capacity utilisation.

The company would also go for volume addition of 5-6 per cent on the existing base, it said.

UltraTech Nathdwara Cement has an installed capacity to produce 6.25 million tonnes per annum (mtpa) cement and 4.59 mtpa clinker in Rajasthan.