No threat to UltraTech

Kumar Mangalam Birla, chairman of the Aditya Birla Group that owns Indias largest cement firm UltraTech Cement, while answering shareholders questions on the development at Holcim, said: There is some internal arrangement. It will in no way be increasing the competition. Last Wednesday, the Swiss giant (UltraTechs main rival in India) tweaked its ownership structure in ACC and Ambuja. As a result, Holcims stake in ACC is proposed to be transferred to Ambuja.