Mumbai: Hindalco Industries, Metals Flagship of Aditya Birla Group, is set to acquire an Ohio-based manufacturer Aluchem companies of special alumina for the venture price of $ 125 million, marking its third acquisition in the US. The company had earlier acquired novels and Aleris Corporation. Alucham Acquisition will be done through Aditya Holdings, which is a fully owned subsidiary of Hindalco. The Indian company currently operates 500,000 tonnes of special alumina capacity and aims to double it by 1 million tonnes by FY30. Global feature is estimated to increase the alumina market significantly, from ceramic and electronics to aerospace and medical applications to electric mobility and semiconductor with increasing demand for solutions in sectors.Alucham brings Hindalco a strong appearance with an annual capacity of 60,000 tonnes in its three manufacturing facilities in the states of Ohio and Arkansas in North America. Kumar Mangalam Birla, president of Aditya Birla Group, called the acquisition an important step in the Indian strategy to make the acquisition a leadership status in high -tech materials. He said, “Our strategic forest will not only expedite the development of durable solutions, especially in alumina space, but will also open new avenues to carry forward high-effects opportunities,” he said.
