Norsk Hydro has agreed to sell its Kuppam aluminum extrusion plant to Hindalco for US$33 million, according to the announcement from both companies. This sale was expected to be closed early next year.
The Kuppam extrusion plant is located in Andhra Pradesh, with an annual production capacity of 15,000 tons of aluminum extrusions, which are widely used in the automobile, building, industrial, and construction sectors.
Hindalco said that the acquisition will help expand its market share in rapidly growing South India.
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