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Hindalco to acquire AluChem for $125 mn to grow speciality alumina reach
Hindalco Industries, a part of the Aditya Birla Group, will acquire a 100 per cent equity stake in AluChem Companies, a US-based manufacturer of speciality alumina, for an enterprise value of $125 million, it said in a stock exchange filing.
'This acquisition is an important step in our global strategy to build a leadership position in value-added, high-tech materials,' Kumar Mangalam Birla, chairman, Aditya Birla Group, said in a statement. 'Our strategic foray into the speciality alumina space will not only accelerate the development of future-ready, sustainable solutions but also open new pathways to pursue high-impact growth opportunities. By integrating advanced technologies into our value chain, we are reinforcing our commitment to self-reliance, import substitution and building scale in innovation-led businesses.'
The acquisition will be carried out through Aditya Holdings LLC, a step-down wholly owned subsidiary of Hindalco Industries. The indicative time period for completion is approximately two to four months, the stock exchange filing stated. Through this deal, Hindalco Industries is expected to gain a strong presence in North America, with an annual capacity of 60,000 tonnes across its three advanced manufacturing facilities in Ohio and Arkansas. Currently, Hindalco operates 500 thousand tonnes of speciality alumina capacity and aims to scale up to 1 million tonnes by FY30, the company said in a statement.
According to the filing, the acquisition will also help the company expand its global footprint in its downstream portfolio of speciality alumina and alumina products.
The company's speciality alumina segment has delivered consistent double-digit growth in recent years and has emerged as a high-growth, high-margin vertical within its portfolio, the statement added. It further noted that as speciality alumina finds newer applications across sectors such as electric mobility, semiconductors and precision ceramics, the acquisition will enable Hindalco Industries to access next-generation alumina applications and drive value-accretive growth.
'This acquisition marks a pivotal step in strengthening our capabilities in next-generation alumina applications,' said Satish Pai, managing director, Hindalco Industries. 'As alumina gains increasing relevance in critical and clean-tech sectors, AluChem's advanced chemistry capabilities will significantly enhance our ability to serve these fast-evolving markets. Importantly, it deepens our high value-added portfolio with differentiated products that drive profitability and strengthen our global competitiveness. It reinforces our commitment to innovation and to expanding our global footprint.'
Ronald P Zapletal, founder, AluChem Companies, said: 'This partnership with Hindalco Industries brings AluChem the ability and capital to scale up faster and build scale in North America. AluChem will benefit from their world-class sustainability and safety standards and practices, access to integrated operations and a consistent, reliable raw material supply chain. Their ability to leverage research and development (R&D) capabilities and a talented workforce adds tremendous value to our innovation pipeline, helping drive market expansion beyond North America.'
Additionally, AluChem Companies is a long-established supplier of ultra-low soda calcined and tabular alumina—materials known for their thermal and mechanical stability and used in cutting-edge applications in high-precision mechanical components and energy-intensive industrial refractories, the release stated.
'Hindalco Industries plans to work with AluChem's high-performance technology solutions and scale up production of ultra-low soda alumina products to drive a larger global market share. The acquisition reinforces our ability to offer end-to-end alumina solutions that are both future-ready and customer-centric,' said Saurabh Khedekar, chief executive officer, alumina business, Hindalco Industries.
Tech Mahindra CEO earned ₹53.9 cr in FY25
Mohit Joshi, chief executive officer and managing director of Tech Mahindra, earned a salary of about ₹53.9 crore in 2024-25 (FY25), according to the company's latest annual report.
Joshi's payment included a salary of ₹11.4 crore, perquisites of ₹30.8 crore, and variable pay and bonus amounting to ₹11.7 crore, totalling ₹53.9 crore. Joshi's median remuneration ratio to the median remuneration of employees was 840.22.
'Mohit Joshi was associated for part of FY24 i.e. from 19th June, 2023 to 31st March 2024. Hence, percentage increase in remuneration is not comparable,' the annual report said.
Joshi's salary is higher than the CEOs of larger information technology (IT) services companies. K Krithivasan, CEO and MD of TCS, earned ₹26.5 crore in FY25, up 4.6 per cent from the previous year, and Infosys CEO Salil Parekh earned ₹80.6 crore in FY25. Avik Das
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