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Apr 14, 2020 · This is a long-term strategic bet, much like Novelis was in 2007,” said Mr. Kumar Mangalam Birla, Chairman, Aditya Birla Group. “The Aleris deal, crucially enables the further diversification of our metals downstream portfolio, into other premium market segments, most notably aerospace.
Apr 14, 2020 · Aleris enhances our strategic position in Asia and also solidifies our position as a leading global metals player, with a stronger presence across the U.S. and Europe as well. I thank the team for closing this important deal," said Mr. Satish Pai, Managing Director of Hindalco Industries.
ATLANTA, April 14, 2020 — Novelis Inc., the world leader in aluminum rolling and recycling, today announced the completion of its acquisition of Aleris Corporation, a global supplier of rolled aluminum products.
Aleris was established in 2004, [2] the result of a merger between an aluminum recycling company and an aluminum rolled products company. [4] Aleris operated as a portfolio company of Texas Pacific Group, [6] and expanded via acquisitions during its early history.
Consolidated net debt to EBITDA expected to be below 3.5x at the time of closing. Aleris has a global footprint with manufacturing facilities in Europe, the U.S. and Asia. Strengthens Novelis’ leadership position in the fastest growing automotive segment with best in class assets in Lewisport, U.S. and Duffel, Belgium.
Apr 15, 2020 · On Tuesday, Hindalco Industries, the non-ferrous metals arm of Aditya Birla group, completed the acquisition of the Aleris through its Atlanta-based subsidiary Novelis, which already has clients...
Apr 17, 2020 · Although the aluminum industry is facing a tough time during the COVID-19 pandemic, there is still light at the end of the tunnel with the Hindalco-Novelis acquisition of Aleris, which makes the group the largest producer of FRP globally.
