UltraTech to acquire cement business from Kesoram Industries.

UltraTech, a cement company, agreed to acquire cement business from Kesoram Industries, an industrial company. Financial terms were not disclosed. "The transaction will provide UltraTech with the opportunity to extend its footprint in the highly fragmented, competitive, and fast growing Western and Southern markets in the country. It will help enhance UltraTech’s geographic reach in Southern markets such as Telangana where UltraTech currently does not have any cement manufacturing plant. The operations will be bolstered by economies of scale resulting from synergies in procurement, logistics and fixed costs," UltraTech.