Smooth Transition: UltraTech Takes Over India Cements Assuring Job Security

India Cements' Vice Chairman and MD, N Srinivasan, assured employees of job security following the company's acquisition by UltraTech. Srinivasan emphasized that the transition will not affect their careers as the new ownership promises to maintain existing policies. UltraTech aims to strengthen its presence in the Southern cement market.

India Cements Vice Chairman and Managing Director, N Srinivasan, has assured employees that the acquisition by UltraTech Cement will not affect their jobs. Addressing concerns, he confirmed that the transition promises stability and continued career growth for the workforce.

Srinivasan emphasized, "The change to UltraTech from India Cements does not mean a change in your career. I have spoken with Kumar Mangalam Birla, Chairman of the Aditya Birla Group, and he assured that good workers will be rewarded."

In a move to boost its footprint in the Southern cement market, UltraTech will acquire a 32.72% stake in India Cements for Rs 3,954 crore and has announced an open offer to acquire an additional 26% stake. Srinivasan encouraged employees to maintain their dedication, assuring them of a solid future ahead.