Hindalco to acquire US-based AluChem for $125 million, to expand global specialty alumina footprint; targets 1 million tonnes by FY30
Hindalco Industries Ltd, the metals flagship of the Aditya Birla Group, on Tuesday announced it will acquire US-based AluChem Companies Inc for $125 million (approximately Rs 1,075 crore) in an all-cash transaction to strengthen its global specialty alumina portfolio.
In a regulatory filing, Hindalco said the deal will be executed through its step-down wholly-owned subsidiary, Aditya Holdings LLC, PTI reported. The acquisition is expected to close in the next quarter, subject to regulatory approvals and customary closing conditions.
AluChem Companies Inc, headquartered in the United States, is a manufacturer of specialty alumina and operates three advanced manufacturing facilities in Ohio and Arkansas, with an annual capacity of 60,000 tonnes.
The company focuses on producing high-value alumina products for a range of industrial applications.
'This acquisition is an important step in our global strategy to build a leadership position in value-added, high-tech materials,' said Aditya Birla Group Chairman Kumar Mangalam Birla in a statement, reported PTI.
Hindalco's specialty alumina business currently has a production capacity of 5 lakh tonnes and caters to sectors like refractories, ceramics, and polishing compounds.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Cuối cùng, chơi miễn phí game chiến thuật hay nhất 2025!
Sea of Conquest
Phát ngay
Undo
The company plans to scale up its specialty alumina capacity to 1 million tonnes by FY30.
'This partnership with Hindalco brings AluChem the ability and capital to scale up faster and build scale in North America,' said Ronald P Zapletal, Founder of AluChem Companies Inc.
The move aligns with Hindalco's broader downstream strategy of expanding its global footprint in the specialty chemicals segment, with an emphasis on value-added, high-margin products.
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.
AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Standard
21 minutes ago
- Business Standard
Haryana-Based PP Softtech Becomes India's Second-Largest Bitumen Importer in Record Time
VMPL New Delhi [India], June 24: In just four years since its launch in 2020, Faridabad-based PP Softtech Pvt. Ltd. has rapidly emerged as a game-changer in India's infrastructure and export sectors. Driven by a commitment to quality and operational excellence, the company has surpassed ₹1,000 crore in turnover, achieved without any external funding, solidifying its position as the country's second-largest importer of bitumen. PP Softtech operates in two high-growth sectors: infrastructure and agri-exports. On the infrastructure front, it supplies a wide portfolio of road-building materials including polymer-modified bitumen (PMB), crumb rubber-modified bitumen (CRMB), emulsions, and industrial-grade fuel and base oils. These materials support large-scale public and private construction projects across India. In an industry that's steadily seeing prices going up due to an increase in crude oil prices worldwide, PPS is sourcing from the world's best refineries at economical prices to overcome price increases in India and helping build India's infrastructure at subsidised costs. Recognising India's diverse geography, the company customises its bitumen formulations to meet regional climatic demands, delivering roads that are more durable and sustainable. Every batch of material undergoes strict quality checks to meet both national and international standards, reinforcing its reputation as a trusted partner in infrastructure development. Addressing the company's rapid growth and strategy for staying ahead in a fast-evolving policy environment, Mr. Prashant Garg, Founder & Managing Director of PP Softtech Pvt. Ltd., said, "Our rapid growth reflects the trust our partners place in us and the clarity of our vision. By sourcing high-quality materials from the world's best refineries at economical rates, we're able to counter price volatility and contribute to infrastructure development at more accessible costs. Additionally, recognising India's diverse geography, we've built a responsive supply and logistics network that ensures timely delivery across all terrains, from metro cities to remote project sites." PP Softtech's rise comes at a time when India is doubling down on infrastructure expansion and global trade ambitions. As policy shifts push for more sustainable and tech-driven solutions, the company's dual focus on smart road-building materials and high-quality agri-exports positions it as a key player in two of the country's fastest-evolving sectors. About PP Softtech Pvt. Ltd. PP Softtech is India's second-largest bitumen supplier and a growing force in fuel oil and base oil distribution. The company also ranks among the leading exporters of Basmati and Non-Basmati rice, as well as fresh produce like lemons, onions, and chilies. Known for its quality-first approach, PP Softtech adheres to global standards at every step. With innovation at its core, the company delivers smart, end-to-end solutions across sectors.
Time of India
31 minutes ago
- Time of India
MCD to reintroduce PPP scheme for park maintenance in Delhi
New Delhi: The Municipal Corporation of Delhi intends to go back to the public-private partnership model for maintaining parks with a per-acre payment up to Rs 15,000. In the pre-unified era, the erstwhile south, north, and east municipal corporations had adopted this scheme, paying Rs 13,500 in south, Rs 8,000 in north, and Rs 8,500 in east Delhi for park maintenance. The programme was halted in 2022 when MCD couldn't settle payments under the scheme with the residents' welfare associations. "The proposed reintroduction of the PPP scheme has been sent for financial observations and will be placed in the standing committee soon," said an MCD official on Tuesday. The civic body currently has outstanding dues of Rs 16 crore on this account and instructions have been given to process the payment after receiving updated bills from RWAs. The three zones of Rohini, Keshavpuram and Narela account for around Rs 10 crore of the dues since 2019. "Due to lack of budgeting in the previous years, the pending payments could not be processed. However, the matter is under active consideration and pending dues will be cleared, subject to availability of funds," said the official. You Can Also Check: Delhi AQI | Weather in Delhi | Bank Holidays in Delhi | Public Holidays in Delhi The municipal bodies had enlisted 222 RWAs in adopting 1,315 parks under the programme. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 파고다어학원 초특가 할인 파고다어학원 더 알아보기 Undo The initiative, launched more than a decade ago, was aimed at encouraging local participation in maintaining neighbourhood parks while addressing recurring problems related to the green spaces arising from MCD's irregular staffing, said officials. "Due to bills remaining unpaid for 2-3 years, RWAs were in a quandary, unsure whether to terminate their contract or continue under the present circumstances. Some RWAs were lucky to have bills till Dec 2023 settled, though it took them dogged pursuance," disclosed an RWA member from East of Kailash. RWAs claimed that MCD lacked even the resources and personnel to remove green waste from parks or the equipment for basic pruning and mowing. Some RWAs are still paying from their own funds to maintain the parks, fearing that a break in maintenance will cause their deterioration. MCD officials revealed there is a plan under way to transfer parks bigger than three acres to private concessionaires for upkeep. "In Karol Bagh zone, we launched a pilot project and called applications from expert agencies to maintain 41 parks. The pilot phase involves allocating 94 acres of land to an agency responsible for engaging staff and planting trees at an estimated cost of Rs 3.6 crore," said an official. Similar steps will be taken in the other 11 zones where the selected agency will be responsible for maintaining greenery, cleaning and sweeping the lawns regularly and transporting the green waste to the waste processing centres. Plants will be provided by MCD from its nurseries.
The Print
an hour ago
- The Print
Leverage AI to search for job opportunities across globe for Andhra youth: Naidu to officials
'Leverage Artificial Intelligence in the state's skill portal 'Naipunyam' to identify and consolidate job openings not just within Andhra Pradesh but across India and international markets,' said Naidu in an official press release. Reviewing the skill development department at the secretariat, the chief minister noted that it has to work towards providing 20 lakh jobs to the state's youth. Amaravati, Jun 24 (PTI) Andhra Pradesh Chief Minister N Chandrababu Naidu on Tuesday directed officials to utilise artificial intelligence (AI) to search for job opportunities available in the state, country and across the world to host that information on 'Naipunyam' website, which can be accessed by the youth of the state. The portal will also feature an automated resume builder, generating professional profiles for registered candidates based on their qualifications. The CM emphasised that skill training must align with emerging technological advancements and global industry requirements to ensure employability. To directly link job seekers with employers, the government will organise large-scale job fairs, with the immediate goal of facilitating 1,500 placements per constituency this year, said the press release. The state government has already secured commitments for Rs 9.5 lakh crore in investments that are projected to create 8.5 lakh jobs. PTI STH AMJ AMJ This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
