Hindalco Industries Ltd.
(, ) is one of the world's largest Aluminium manufacturing company and is a subsidiary of the Aditya Birla Group
. It is run by one of the world's youngest billionaires, Mr. K.M. Birla
The company has annual sales of $
5 billion and employs 13,675 people and is listed on Forbes 2000
. A metals powerhouse with a turnover of US$ 14 billion, Hindalco is one of the world's largest aluminium rolling company and one of the biggest producers of primary aluminium in Asia.
On February 11, 2007, the company entered into an agreement to acquire the Canadian
for U$6 billion, making the combined entity the world's largest rolled-aluminium producer. On May 15, 2007, the acquisition was completed with Novelis shareholders receiving $44.93 per outstanding share of common stock.
Hindalco, through its wholly owned subsidiary AV Metals Inc., acquired 75,415,536 common shares of Novelis, representing 100 percent of the issued and outstanding common shares. Immediately after closing, AV Metals Inc. transferred the common shares of Novelis to its wholly owned subsidiary AV Aluminum Inc.
Other acquisitions and takeovers
In July 2007, Hindalco announced it is acquiring the stake of Alcan
Inc.'s in the Utkal Alumina Project located in Orissa.
In June 2000, acquisition of controlling stake in Indian Aluminium Company Limited (Indal) with 74.6 per... Read More