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.