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Last week's much talked about Holcim's restructuring of Indian operations' ownership is not a threat to India's largest cement firm UltraTech Cement.
Kumar Mangalam Birla, chairman of Aditya Birla group, while answering shareholder's questions about development at Holcim, said, "There is some internal arrangement. It will no way be increasing the competition. They are the existing competitors."
Last Wednesday, Swiss giant -the main competitor of UltraTech in India with its domestic operations - ACC and Ambuja, had tweaked the ownership structure. As a result of that, Holcim's stake in ACC is proposed to be transferred to Ambuja.
Ambuja and ACC, put together, has a cement making capacity of 58 million tonne per annum. The duos, together, is leading the industry. UltraTech is around 5 million tonne less than Holcim's India operations at around 53 million tonne.
