February 12: Following India’s Tata Steel winning bid for Anglo-Dutch steelmaker Corus at the end of January, India’s leading non-ferrous metals supplier Hindalco agreed yesterday to acquire Novelis, the world’s largest manufacturer of aluminium sheet for making beverage cans, for nearly $6 billion.
Aluminium and copper supplier Hindalco is the flagship company in the Aditya Birla Group, a $12bn business based in Mumbai, India.
Kumar Mangalam Birla, chairman of the Aditya Birla Group said: “The acquisition is in line with our long-term strategies of expanding our global presence across our various businesses and is consistent with our vision of taking India to the world.”
