M&A

M&A

Jindal Aluminum acquires Indo Alloys' extrusion plant in Rajasthan for Rs.100-Cr

Business Standard  

Bengaluru-based Jindal Aluminum Ltd has concluded the acquisition of the assets of New Delhi-based Indo Alusys Industries Ltd (IAIL) for INR 100 crore and commenced production. The acquisition of IAIL's assets covers its manufacturing unit located in the industrial area of Bhiwadi, Rajasthan. About 70 km from the national capital, the location offers strategic access of the northern market to Jindal Aluminum and brings a potential capacity of 14,000 metric tonnes per annum extrusions. Once fully operational, Jindal Aluminium's extrusion capacity is expected to rise from 125,000 tonnes to 139,000 tonnes. Apart from helping Jindal Aluminium to add capacity, the IAIL deal helps revive the local economy, benefit the community and other stakeholders.