India’s Ultratech sells stake in China unit

摘要

A top Indian cement maker’s decision to divest a Chinese subsidiary highlights growing trade tensions between the two countries, which could have larger efects on India’s calcining and aluminium industries. India’s largest cement maker, Ultratech, will sell its entire stake in a Chinese subsidiary unit for $120mn. The decision to exit coincides with an increase in tensions between India and China over disputed borders in the Himalayas.