Hindalco Industries
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| Type | Public |
|---|---|
| Traded as | BSE: 500440 NSE: HINDALCO |
| Industry | Metals & Mining |
| Founded | 1958 [1] |
| Headquarters | Mumbai, Maharashtra, India |
| Key people | Kumar Mangalam Birla (Chairman) |
| Products | Aluminium and Copper |
| Revenue |  72,077 crore (US$14.42 billion) (2011) [2][3] |
| Operating income | 5,682 crore (US$1.14 billion) (2011) |
| Net income | 2,879 crore (US$575.8 million) (2011)[3] |
| Total assets | 58,932 crore (US$11.79 billion) (2011) |
| Employees | 19,539 (2010) |
| Parent | Aditya Birla Group |
| Website | Hindalco.com |
Hindalco Industries Ltd. (BSE: 500440, NSE: HINDALCO) is one of the world's largest Aluminium manufacturing company and is a subsidiary of the Aditya Birla Group.[4] It is run by one of the world's youngest billionaires, Mr. K.M. Birla.
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[edit] Financial information
The company has annual sales of $ 5 billion and employs 13,675 people and is listed on Forbes 2000. A metals powerhouse with a turnover of US$ 14 billion, Hindalco is one of the world's largest aluminium rolling companies and one of the biggest producers of primary aluminium in Asia.[5]
[edit] History
The Hindustan Aluminum Corporation Limited was established in 1958 by the Aditya Birla Group. In 1962 the company began production in Renukoot in Uttar Pradesh making 20,000 million metric tons per year of aluminum metal and 40,000 million metric tons per year of alumina. In 1989 the company was restructured and renamed Hindalco.[6]
[edit] Novelis acquisition
On February 11, 2007, the company entered into an agreement to acquire the Canadian company Novelis for U$6 billion, making the combined entity the world's largest rolled-aluminium producer.[7] At 2007 Novelis was the world's largest producer of rolled aluminum and a major recycler of aluminum cans.[6] On May 15, 2007, the acquisition was completed with Novelis shareholders receiving $44.93 per outstanding share of common stock.
Hindalco, through its wholly owned subsidiary AV Metals Inc., acquired 75,415,536 common shares of Novelis, representing 100 percent of the issued and outstanding common shares. Immediately after closing, AV Metals Inc. transferred the common shares of Novelis to its wholly owned subsidiary AV Aluminum Inc.
When Hindalco made this bid in 2007 this became the largest Indian investment in North America and the second-largest overseas investment by an Indian company (behind Tata Steel Europe's purchase of Corus two weeks earlier) to this time.[6]
The day after Hindalco announced the acquisition its stock fell by 13% resulting in a USD $600 million drop in market capitalization. Shareholders criticized the deal but K.M. Birla responded that he had offered a fair price for the company and stated, "When you are acquiring a world leader you will have to pay a premium."[6]
[edit] Other acquisitions and takeovers
In July 2007, Hindalco announced it is acquiring the stake of Alcan Inc.'s in the Utkal Alumina Project located in Orissa.
In June 2000, acquisition of controlling stake in Indian Aluminium Company Limited (Indal) with 74.6 per cent equity holding.[8]
[edit] Forbes ranking
Hindalco is listed on the 2011 Forbes Global 2000 at the position 643.[9]
[edit] References
- ^ "About us | Overview". Hindalco. 2009-08-19. http://www.hindalco.com/about_us/overview.htm. Retrieved 2011-02-11.
- ^ http://www.nseindia.com/qresann/detailedresult_cons.asp?scrip_cd=500440&qtr=69.50&compname=HINDALCO%20INDUSTRIES%20LTD.&quarter=MC2010-2011&checkcons=55
- ^ a b "The 20 largest companies in India - Rediff.com Business". Rediff.com. http://www.rediff.com/business/slide-show/slide-show-1-the-top-20-companies-in-india/20101210.htm. Retrieved 2010-12-10.
- ^ "Businesses | Aluminium | Rolled products". Hindalco. 2007-11-16. http://www.hindalco.com/businesses/rolled_products.htm. Retrieved 2010-09-28.
- ^ "Hindalco to acquire Novelis for $6.0 Billion". Indiaprwire.com. http://www.indiaprwire.com/pressrelease/mining-metals/200702121877.htm. Retrieved 2010-09-28.
- ^ a b c d Kumar, Nirmalya (2009). India's Global Powerhouses. Harvard Business Press. pp. 107–120. ISBN 978-1-4221-4762-7.
- ^ "http://www.prnewswire.com/ future-for-rolled-aluminum-products-industry". Norway: Prnewswire.com. http://www.prnewswire.com/news-releases/novelis-president-charts-sustainable-future-for-rolled-aluminum-products-industry-97346054.html. Retrieved 2010-09-28.
- ^ "Indian Aluminium Company Ltd". Financialexpress.com. 2003-01-19. http://www.financialexpress.com/news/indian-aluminium-company-ltd/69954/. Retrieved 2010-09-28.
- ^ "The Forbes 2000". Forbes.com. http://www.forbes.com/global2000/list?country=India&industry=All&state=All. Retrieved 2011 April.
[edit] External links
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- Companies listed on the Bombay Stock Exchange
- Companies listed on the National Stock Exchange of India
- Companies based in Mumbai
- Mining companies of India
- Copper mining companies
- Aditya Birla Group
- BSE Sensex
- Aluminium companies of India
- Companies established in 1958
- Multinational companies headquartered in India
