Aditya Birla Group’s metals flagship Hindalco Industries Limited signed an agreement to acquire Hydro’s aluminium extrusions business in India for
Rs. 247 crore. This acquisition from Hydro, the Norway-headquartered aluminium and energy company, brings an integrated facility located in Kuppam, Andhra Pradesh, the world’s largest aluminium rolling and recycling company.
The plant has a 15,000-ton aluminium extrusions capacity and is integrated with advanced capabilities for surface finishing and fabrication.This will strengthen Hindalco’s position firmly in South India, the second largest extrusions market.
The aluminium extrusions market in India is expected to grow rapidly from around 373,000 tonnes to reach about 850,000 tonnes by 2030. Also, the stock was trading more than 1 percent higher at Rs 455.50.
