Aditya Birla Group's Novelis announces acquisition of Aleris for $2.6 bn
"Acquiring Aleris is the right opportunity at the right time as they are set for transformational growth," said Steve Fisher, President and CEO, Novelis Inc, adding "The significant investments they've made in the high-demand, high-value aerospace and automotive segments have resulted in favorable long-term, global contracts. These investments, coupled with a diverse and talented workforce, will add tremendous value to our organization and allow us to deliver the highest quality innovative aluminum solutions to our customers."
Aditya Birla Group acquisition: Kumar Mangalam Birla led Aditya Birla Group today announced that Novelis has bought out Ohio-based aluminium maker Aleris Corp for $2.6 billion. Image source: Reuters