Hindalco Expands North American Footprint With AluChem Acquisition
Hindalco Industries Ltd, the metals arm of Aditya Birla Group, is acquiring US-based AluChem Companies Inc for $125 million to expand its footprint in specialty alumina products. This strategic acquisition aims to bolster Hindalco's presence in North America, with plans to double its specialty alumina capacity by 2030.
- Country:
- India
Aditya Birla Group's Hindalco Industries Ltd announced it will acquire US-based AluChem Companies Inc for $125 million. The acquisition is intended to enhance Hindalco's global footprint in the specialty alumina sector, the company revealed in a regulatory filing on Tuesday.
Hindalco will execute the transaction via its wholly-owned subsidiary, Aditya Holdings LLC, and expects to finalize the deal by the next quarter, pending regulatory approvals. AluChem Companies specializes in producing specialty alumina, significantly boosting Hindalco's capacity.
With this acquisition, Hindalco will tap into AluChem's 60,000 tonnes annual capacity across three facilities in Ohio and Arkansas, enabling the Indian conglomerate to aim for a 1 million tonne capacity by FY30. The move is pivotal for Hindalco's ambition to lead in value-added, high-tech materials.
(With inputs from agencies.)
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