Aleris: Hindalco-Novelis Completes Acquisition of Aleris

The acquisition has made Hindalco one of the world's largest aluminium companies.According to the statement, the acquisition will generate approximately $150 million in synergies and creates a strong financial profile. Aditya Birla Group's metals flagship company Hindalco Industries on Tuesday said that it has completed acquisition of the US-based rolled products major, Aleris Corporation.The acquisition has made Hindalco one of the world's largest aluminium companies, with a global footprint spanning 49 manufacturing facilities in North America, Europe and Asia. "The closure of this deal amidst challenging market conditions, reflects our conviction in the Aleris business and its value to our metals portfolio," Kumar Mangalam Birla, Chairman, Aditya Birla Group was quoted as saying in a statement.