Hindalco forms venture with Almex of the U.S.

Mumbai: Hindalco has entered into a joint venture partnership with Almex of the U.S. to make high strength aluminium alloys for aerospace applications, sporting and surface transport industries.
According to a company statement, the joint venture is to be named `Hindalco-Almex Aerospace Ltd.' with Hindalco holding 70 per cent of the equity and Almex the balance 30 per cent.
The joint venture envisages a capital outlay of Rs. 155 crore at a production level of 46,000 tonnes. This volume is likely to be reached in phases over three to four years Production is expected to commence in the first quarter of 2008.
According to Debu Bhattacharya, Managing Director, Hindalco, "this is a great opportunity for Hindalco at a time when the aviation industry is slated to be on an upswing".
02/11/06 The Hindu

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