Hindalco Industries Ltd. of the Aditya Birla Group said it had agreed to acquire Hydro’s aluminium extrusions business in India for an enterprise value of ₹247 crore.
This acquisition from Hydro, the Norway-headquartered aluminium and energy company, brings into the Hindalco fold an integrated facility located in Kuppam, Andhra Pradesh, an experienced team of employees and the ability to serve a robust portfolio of reputed customers, the company said.
The plant has a 15,000-tonne aluminium extrusions capacity and is integrated with ‘advanced value-addition capabilities’ for surface finishing and fabrication.
The facility offers custom aluminium extrusion products and solutions for auto, building and construction, and industrial applications. It will further extend Hindalco’s footprint in South India, the company said.
“The acquisition is a strategic step to expand our presence in the upper-end of the value-added market,” said Satish Pai, Managing Director, Hindalco. “The plant’s specialised product portfolio will enhance our capabilities in high-end extrusions and fabricated solutions. The acquisition is the latest step in our long-term strategy to augment our downstream business,” he added.
