UltraTech Cement Limited, a prominent player in the cement industry and part of the Aditya Birla Group, has announced its acquisition of an additional 11.55% equity stake in Ras Al Khaimah Co. for White Cement and Construction Materials PSC (RAKWCT). This acquisition, valued at $22.02 million, strengthens UltraTech’s presence in the white cement segment and aligns with its strategic goals of global expansion.
RAKWCT, headquartered in Ras Al Khaimah, UAE, is listed on the Abu Dhabi Stock Exchange and primarily deals in white cement clinker, white cement, and construction materials. This acquisition is expected to further UltraTech’s capabilities in the white cement manufacturing sector, enabling it to expand its business regionally and globally. The acquisition also supports UltraTech’s objective to diversify its product portfolio, including wall care putty and other construction-related products.
As part of the transaction, UltraTech acquired 5,77,74,407 equity shares of RAKWCT, increasing its shareholding in the company. This acquisition is not a related-party transaction, and there is no promoter involvement from the Aditya Birla Group companies in RAKWCT.
Established in 1980, RAKWCT reported revenues of AED 576.3 million (approximately ₹1,308 crore) for CY23, with consistent growth over the past three years. The company’s turnover for CY22 and CY21 stood at AED 537.4 million and AED 482.5 million, respectively.
