Hindalco Industries has signed a definitive agreement to acquire Hydro’s aluminium extrusions business in India for an enterprise value of Rs 247 crore. This acquisition from Hydro, the Norway-headquartered aluminium and energy company, brings into the Hindalco fold, an integrated facility located in Kuppam, Andhra Pradesh, an experienced team of employees and the ability to serve a robust portfolio of reputed customers.
Hydro’s Kuppam plant has a 15,000-ton aluminium extrusions capacity and is integrated with advanced value addition capabilities for surface finishing and fabrication. Located about 120 kilometres from Bengaluru, the Kuppam facility offers custom aluminium extrusion products and solutions for auto, building & construction, and industrial applications. It will further extend Hindalco’s footprint in South India, which is the second largest extrusions market in India.
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.
