Takeover by UltraTech won't hit jobs, Srinivasan tells staff

India Cements' vice chairman N Srinivasan assured employees that their careers would not be affected by the firm's acquisition by UltraTech Cement. He stated that UltraTech would uphold existing policies and reward good workers. The decision to sell was driven by competitive pressures and an incomplete investment deal. The acquisition totaled Rs 3,954 crore.