Hindalco Industries’ wholly owned subsidiary -- Novelis Inc has signed an agreement to acquire 100% control in Aleris Corporation on July 26, 2018. The cost of acquisition is of $775 million plus up to $50 million in additional payments through an Earn-out-provision.
Hindalco Industries is an industry leader in aluminium and copper. The company’s aluminium units across the country encompass the entire gamut of operations from bauxite mining, alumina refining, aluminium smelting to downstream rolling, extrusions, foils and alloy wheels, along with captive power plants and coal mines.
