Hindalco’s arm reaffirms commitment to acquisition of Aleris

Novelis Inc, a subsidiary of Hindalco Industries, has reaffirmed its commitment to close the proposed 2.6 billion dollar acquisition of Aleris Corporation, notwithstanding the US Department of Justice (DOJ) lawsuit to block the transaction.

The DOJ filed a lawsuit aimed at stopping Novelis proposed purchase of Aleris because of concern over higher prices for aluminium sheet used to make cars.

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.