M&A
Hindalco to buy Norwegian firm Hydro's aluminium extrusions plant in AP for $33-M
Mumbai-based, publicly listed Hindalco Industries Ltd, the metals flagship of the Aditya Birla Group, is to acquire Oslo-based Hydro Extrusions' aluminium extrusions business in India for an enterprise value of INR 247 crore (USD 33 million), on a cash free and debt free basis. The acquisition brings into the Hindalco fold, an integrated facility located in Kuppam, Andhra Pradesh along with around 245 direct employees and 224 contract employees. Hydro's Kuppam plant has a 15,000-ton aluminium extrusions capacity and is integrated with advanced value addition capabilities for surface finishing and fabrication. Located about 120 km from Bengaluru, the facility offers custom aluminium extrusion products and solutions for auto, building & construction, and industrial applications.
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