Hindalco to buy AluChem for $125 million, its 3rd US deal
MUMBAI: Hindalco Industries, the metals flagship of the Aditya Birla Group, is set to acquire AluChem Companies, an Ohio-based manufacturer of specialty alumina, for an enterprise value of $125 million, marking its third acquisition in the US.
The company previously acquired Novelis and Aleris Corporation.
The AluChem acquisition will be carried out through Aditya Holdings, a step down wholly owned subsidiary of Hindalco.
The Indian company currently operates 500,000 tons of specialty alumina capacity and aims to double it to 1 million tons by FY30. The global specialty alumina market is projected to grow significantly, with increasing demand for solutions in sectors ranging from ceramics and electronics to aerospace and medical applications to electric mobility and semiconductors.
AluChem brings Hindalco a strong presence in North America with an annual capacity of 60,000 tons across its three manufacturing facilities in the states of Ohio and Arkansas.
Aditya Birla Group chairman Kumar Mangalam Birla called the acquisition an important step in Hindalco's strategy to build a leadership position in 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," he said.
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