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Hindalco Industries has agreed to acquire the American company Aleris Corporation for a business value of $ 2.58 billion, which will help Hindalco to become a global leader in aluminum outside China .
The acquisition will be via the wholly owned subsidiary of Hindalco, Novelis Inc. The combined entity will have revenues of $ 21 billion and an employee base of about 40 000.
Debt-financed contract
"The $ 2.58 billion debt-financed operation would be in Novelis' books" We are well positioned to serve our clients across the geographic areas of Automobile and now the segments of high-end aerospace, "said Kumar Mangalam Birla, president of Hindalco Industries."
Since the acquisition of Novelis by Hindalco for $ 6 billion in August 2007, Novelis has invested an additional $ 2 billion in the business over the last decade, "said the company in a statement adding Novelis tod.Was the world's leading company in the value-added products segment from the Aluminum in terms of size and in segments such as the automobile and cans, its profits have increased considerably since its acquisition.
"Acquisition of Aleris Hindalco-Novelis In addition to pursuing value-added segments, the logic and key drivers include access to high-growth sectors such as automotive and transportation, aerospace and defense, road trailers and construction, "said Anjani K. Agrawal."
The modern factory of Aleris in Zhenjiang, located close to the airport. Novelis plant in Changzhou, strengthens Novelis' competitive position in Asia by giving it advantages.We access to SHFE (Shanghai Futures Exchange) and strengthening its leadership as a supplier of aluminum sheet on the largest and most dynamic automotive market in the world, says the statement
Merger Synergies
"The Merger will have synergies of $ 150 million. It also improves access to world-clbad manufacturing capabilities for our Indian value-added aluminum businesses and accelerates our path to world-clbad manufacturing in India, "added Birla
. a few years in the automotive and aeronautics sectors. The ramp-up of these capabilities in the near term will significantly enhance Novelis' growth across regions and market segments.
The acquisition by Novelis is expected to close in 9-15 months subject to customary closing conditions and regulatory approvals. 19659012] (function (d, s, id) {
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