Hindalco in JV with US firm
Hindalco, the flagship company of Aditya Birla Group, has entered into a joint venture partnership with Almex USA Inc for the manufacture of high strength aluminium (HSA) alloys for applications in the aerospace, sporting goods and surface transport industries.
The JV company is to be named as “Hindalco – Almex Aerospace Limited”. In the joint venture , Hindalco will have 70 per cent equity participation and the rest 30 per cent will be held by Almex. The new company envisages a capital outlay of Rs 155 crore at a production level of 46,000 tonnes.
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