Kumar Mangalam Birla

Novelis to Invest US$180 MM in Automotive Aluminium Plant in Eastern China

Novelis to Invest US$180 MM in Automotive Aluminium Plant in Eastern China

In a bid to capitalize on the ever-expanding market for automotive aluminium, Atlanta’s rolled and recycled aluminium firm Novelis Inc. announced on Wednesday that it will invest US$180 million in Jiangsu, China. Per the firm, the investment at its facility in Changzhou...

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Events

Hindalco Setting Aside US$3 Billion for Foreign Acquisitions

Hindalco Setting Aside US$3 Billion for Foreign Acquisitions

Indian mining giant Aditya Birla Group is reportedly setting aside at least US$3 billion in funding to be used for acquiring going concerns to add to its subsidiary Hindalco Industries. According to anonymous sources who spoke to domestic media, Aditya Birla is looking to make a move into the downstream aluminium sector. Such a move […]

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Zhongwang Deal Extended to Mid-September: Aleris Spokesperson

Zhongwang Deal Extended to Mid-September: Aleris Spokesperson

Aluminium extrusion giant China Zhongwang continues to have its sights set on Cleveland’s Aleris Corporation according to a spokesperson from the latter. According to an article published Friday, the merger agreement between Aleris and Zhongwang subsidiary Zhongwang USA has been extended to the middle of this month. The agreement, which was first announced at the […]

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Hindalco Said to Soon Sell Brazilian Assets

Hindalco Said to Soon Sell Brazilian Assets

According to sources close to the firm, India’s Hindalco Industries is planning to shed its alumina assets and bauxite mines in Brazil. The sources indicate that commodity prices are prompting the move. The sources, who spoke to Indian media on condition of anonymity, indicate that the proceeds of the sale would be used towards debt […]

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