Economy & Market

Cement M&As top the chart

Published

8 years ago

May 31, 2017

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The pace of M&A activity in the Indian cement industry has picked up over the previous year, with the country’s leading cement producers in particular looking to strengthen their positions at the top.

The Aditya Birla Group’s UltraTech Cement is leading the acquisition trail to build a stronger base. The company is currently the single-largest cement producer in India, with a total domestic capacity of 66.6 MT/annum in 2017. One of the newest players in the local cement industry has had its domestic capacity increasing more than 10-fold since FY98 adopting a two-pronged strategy of organic and inorganic growth. Earlier, it was reported that the company is nearing completion of an agreement to acquire the cement division of Jaiprakash Associates for Rs 160 billion, with local sources saying the deal is expected to close in July. This acquisition will increase UltraTech’s capacity by a further 20MT/annum, and the group is currently constructing a 3.5 MT integrated plant in Dhar, in Madhya Pradesh. These additions will take UltraTech’s Indian production base to more than 90 MT/annum by the middle of 2019.

Meanwhile, LafargeHolcim has initiated a process of merging of its Indian operations ACC and Ambuja Cement following months of speculation that a union could be on the cards. With a capacity of 33.41 MT/annum, ACC is the larger of the two, with 17 plants located across the country. Ambuja Cement has a capacity of 29.65 MT/annum, spread across five integrated plants and eight grinding units. A combination of the two groups would give a combined capacity of 63 MT/annum. The move is being considered "with a view to combine the strengths of both businesses so as to benefit all stakeholders," ACC said in a statement.

Analysts believe the merger, if cleared, will lead to rationalisation and savings on many levels including logistics and taxes on interparty transactions, cross-branding and cross-bagging and also sales and marketing. However, industry commentators have noted that the benefits of this will accrue only in the long term.

If the merger happens, it will be the latest in a series of such transactions over the past year from producers further down the ladder. Aside from UltraTech’s pending acquisition of Jaiprakash’s cement assets, in the last year, JSW Cement said it will buy out the entire promoter holding in cement maker Shiva Cement. Nirma acquired Lafarge India, taking the capacity of the former from about 2 MT/annum to 13 MT/annum. In August 2016 Birla Corp completed the acquisition of Reliance Infrastructure’s cement arm. And since the acquisition of Italcementi, HeidelbergCement has strengthened its position in India, and now has four integrated plants and four grinding units in the country, with a combined capacity of 12.7 MT/annum.

Despite these deals, the Indian cement sector remains fragmented with 232 plants and a cement capacity of 413 MT/annum. However, the market is dominated by four major players who collectively hold more than half of the country’s installed capacity. UltraTech and LafargeHolcim together have 35 per cent of capacity, with Dalmia Cement and Shree Cement sharing the remainder. Of the remaining large firms outside the top four are Ramco, India Cement and Chettinad. India’s remaining production capacity is divided between a number of other larger and mid-sized firms and a host of smaller players.

Capacity has grown rapidly, rising from 220 MT/annum in 2009. However, cement volume growth has also been weak in the past 3-4 years, led by a slowdown in housing and commercial building. Going forward, demand is likely to increase given an improved focus on infrastructure, low-cost housing and uptick in rural housing.

In addition, the pace of capacity growth has begun to slacken as utilisation rates have fallen. With past lessons learnt in terms of excessive capacity building, and a slowdown in the rate at which new additions are built, consumption growth is predicted to outpace it, leading to higher utilisation rates and better financial conditions for Indian producers.

Economy & Market

Fornnax launches world’s biggest secondary/fine shredder for AFR pre-processing

Published

1 week ago

November 7, 2025

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Fornnax has introduced its latest breakthrough – the R-MAX3300, for handling low-density waste streams, offering a powerful solution for cement AFR plants.

Fornnax Technology has launched its latest breakthrough – the R-MAX3300, the biggest secondary shredder in its class. The unveiling took place on 14th October, 2025 at IFAT India 2025 in Mumbai, one of the most prestigious events for environmental technologies, waste management, and sustainable resource innovation.

The launch ceremony was graced by esteemed industry leaders and dignitaries. The guest list included Md Fahim Sopariwala, CEO, GEPIL India; Sridhar Jagannathan, Vice President, Zigma Global; Priyesh Bhatti, CEO, GEPIL India; Shailendra Singh, Deputy General Manager, Prism Johnson (Cement Division); Ulhas Parlikar, Global Consultant, Waste Management, Circular Economy, Policy Advocacy and Co-processing; Saurabh Palsania, Joint President (Strategic Sourcing), Shree Cement; Rajeev Patel, DGM (Process), Mangalam Cement; and Anumodan Kumar Dubey, Mangalam Cement.

This state-of-the-art equipment represents a significant advancement for India’s recycling and waste processing landscape, offering a powerful solution for cement AFR plants and waste-to-energy facilities.

Building on the proven performance and legacy of the R Series secondary shredder, which has long been trusted for high-density materials like tyres and cables, the newly introduced R-MAX3300 is specifically engineered for handling low-density waste streams. These include Municipal Solid Waste (MSW), Commercial and Industrial (C&I) waste, Bulky waste, Legacy waste, Wood waste, and Construction & Demolition (C&D) waste.

By incorporating advanced shredding technology, the R-MAX3300 enables seamless and highly efficient production of Refuse Derived Fuel (RDF) and Solid Recovered Fuel (SRF) within the ideal particle size range of 30 to 50 mm. Its design prioritises versatility, durability and superior performance, directly supporting industrial operations that demand consistency and scale.

“The R-MAX3300 represents a monumental leap forward in our vision to become a global leader by 2030 in recycling technology through innovation,” said Jignesh Kundaria, Director and CEO, Fornnax Technology. “With the rising challenges of waste management in India and globally, this machine is not just a product; it’s a powerful tool for change. We engineered it to handle the most difficult waste streams with unparalleled efficiency, turning what was once considered unusable waste into a valuable resource. It directly addresses the urgent demand for effective, large-scale shredding technology that can support cement kilns and waste-to-energy facilities in achieving the desired output,” he added.

The launch of the R-MAX3300 arrives at a pivotal moment. India currently generates over 160,000 tons of municipal solid waste daily, while government-led initiatives such as Swachh Bharat Mission and Smart Cities are accelerating the demand for RDF and waste-to-energy solutions. Simultaneously, the global industrial shredder market is expected to grow at a 5–6 per cent CAGR, driven by stricter recycling regulations and increasing waste generation.

Kundaria further emphasised, “Our commitment goes beyond just selling machinery; it’s about empowering our customers to achieve lasting efficiency, sustainability, and growth. We see ourselves as a trusted partner who stands beside them at every step – from technology deployment to ongoing support, ensuring they can rely on Fornnax not only for performance but also for consistency, dependability, and long-term value.”

The R-MAX3300 is equipped to handle high-throughput processing of pre-shredded or coarse materials, making it ideal for SRF/RDF production, composting pre-treatment, and volume reduction for logistics optimisation. It is expected to play a crucial role in Integrated Waste Management Projects (IWMP) and bio-mining operations both within India and globally.

With this grand launch, Fornnax continues to set global benchmark and move decisively towards the vision of becoming global leader in recycling technology by 2030 that is state-of-the-art, innovative, economical, efficient reliable and eco-friendly.

Concrete

Fornnax wins Top Domestic Sales Award 2024-25 by AIRIA

Published

1 week ago

November 7, 2025

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Fornnax bags the Excellence in Top Domestic Sales Award 2024–25 by the All India Rubber Industries Association (AIRIA).

The company has been honoured with the Excellence in Top Domestic Sales Award 2024–25 by the All India Rubber Industries Association (AIRIA) under the Rubber Machineries and Equipment category. The award recognises Fornnax’s exceptional market leadership, strong sales performance and continued commitment to sustainable innovation.

With over a decade of specialised expertise, Fornnax has emerged as a transformative force in India’s tyre recycling sector, commanding nearly 90 per cent of the domestic market while steadily expanding across Europe, Australia, the GCC, and other global regions.

Fornnax’s advanced recycling systems—comprising the SR-Series Primary Shredders, R-Series Secondary Shredders, and TR-Series Granulators—are engineered for durability, efficiency, and high-output performance. These technologies are widely deployed in end-of-life tyre (ELT) processing and other waste management applications, reinforcing Fornnax’s reputation as a trusted industry partner.

Expressing his gratitude, Jignesh Kundaria, Director & CEO, Fornnax, said, “We are incredibly proud to receive this recognition from AIRIA. This award validates the trust that our customers and partners have placed in us over the years. I would like to extend my heartfelt gratitude to all our clients and partners who have been an integral part of this journey and our continued success. At Fornnax, our goal has always been to empower the recycling industry with innovative, high-performance solutions that make sustainability both achievable and profitable.”

The award also underscores Fornnax’s pivotal role in promoting circular economy practices by enabling the conversion of end-of-life tyres and rubber waste into reusable raw materials. Through ongoing R&D, new product innovation, and a solutions-driven approach, the company continues to help industries worldwide adopt eco-conscious, scalable recycling models.

As India’s recycling landscape evolves to meet global sustainability benchmarks, Fornnax stands at the forefront with internationally certified technology, a proven track record, and a clear vision for environmentally responsible growth.

Concrete

Pacific Avenue Completes Acquisition of FLSmidth Cement; Rebrands as Fuller Technologies

Published

2 weeks ago

November 4, 2025

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The acquisition of FLSmidth Cement by Pacific Avenue Capital Partners marks a new phase of focused growth and innovation.
Rebranded as Fuller® Technologies, the company will continue delivering world-class solutions with renewed investment and direction.

Pacific Avenue Capital Partners (“Pacific Avenue”), a global private equity firm, has completed its acquisition of FLSmidth Cement following the fulfillment of all customary closing conditions and regulatory approvals. The transaction includes all of FLSmidth Cement’s intellectual property, technology, employees, manufacturing facilities, and global sales and service organizations.

As Fuller Technologies, the company will continue to seamlessly support its customers while advancing its robust portfolio of capital equipment, digital solutions, and service offerings. With a sharpened focus on Pyro and Grinding technologies, alongside core brands such as PFISTER®, Ventomatic®, Pneumatic Conveying, and Automation, Fuller Technologies aims to deliver enhanced value and reliability across the cement and industrial sectors.

Under Pacific Avenue’s ownership, Fuller Technologies will benefit from increased investment in people, products, and innovation. The dedicated management team will work to optimize operations and strengthen customer relationships, ensuring continuity and excellence during this exciting transition.

“We are proud to be the new owner of FLSmidth Cement, now Fuller Technologies, a global leader with a rich history of providing mission-critical equipment and aftermarket solutions in the cement and industrial sectors. We will continue to build upon the Company’s legacy of being at the forefront of technological innovation, service delivery, and product quality as we support our customers’ operations,” says Chris Sznewajs, Managing Partner and Founder of Pacific Avenue Capital Partners.

Pacific Avenue’s deep experience in executing complex industrial carve-outs and guiding standalone businesses into their next growth phase will be instrumental in shaping Fuller Technologies’ future. With a proven track record in building products and capital equipment industries, Pacific Avenue is poised to help Fuller Technologies optimize performance, accelerate growth, and create long-term value for its customers and stakeholders worldwide.