Hindalco Industries Ltd has acquired 100 percent equity stake in US-based specialty alumina manufacturer AluChem Companies for $125 million, a company statement said on June 24.
The company said the purchase will be undertaken through its stepdown wholly owned unit Aditya Holdings, adding that the deal marks a significant investment in specialty alumina, a key step in scaling its high-value, technology-led materials portfolio.
“This acquisition is an important step in our global strategy to build a leadership position in value-added, high-tech materials. Our strategic foray into the specialty alumina space will not only accelerate the development of future-ready, sustainable solutions but also open new pathways to pursue high-impact growth opportunities,” said Kumar Mangalam Birla, Chairman of Aditya Birla Group.
The acquisition will help open up new opportunities for Hindalco with growing application of specialty alumina in new-age sectors such as electric mobility and semiconductors, the company statement said.
The US-based company will help Aditya Birla group company to expand its presence in North America with an annual capacity of 60,000 tons across its three advanced manufacturing facilities in Ohio and Arkansas.
"As alumina gains increasing relevance in critical and clean-tech sectors, AluChem’s advanced chemistry capabilities will significantly enhance our ability to serve these fast-evolving markets," said Satish Pai, managing director, Hindalco Industries.
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