Showing its mettle in tough times

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: Hindalco Industries Limited, the metals flagship of the Aditya Birla Group, is an industry leader in aluminium and copper. A metals powerhouse with a consolidated turnover in excess of $14 billion, Hindalco is the world’s largest aluminium rolling company and one of the biggest producers of primary aluminium in Asia. Its copper smelter is the world’s largest custom smelter at a single location.

Established in 1958, Hindalco commissioned its aluminium facility at Renukoot in Eastern Uttar Pradesh in 1962. Later, acquisitions and mergers with Indal, Birla Copper and the Nifty and Mt. Gordon copper mines in Australia, strengthened the company’s position in value-added alumina, aluminium, and copper products, with vertical integration through access to captive copper concentrates.

In 2007, the acquisition of Novelis Inc, a world leader in aluminium rolling and can recycling, marked a significant milestone in the history of the aluminium industry in India. With Novelis under its fold, Hindalco ranks among the global top five aluminium majors, as an integrated producer with low cost alumina and aluminium facilities, combined with high-end rolling capabilities and a global footprint in 12 countries outside India. Its combined turnover of $14 billion places it in the Fortune 500 league.

In May 2007, Novelis became a Hindalco subsidiary with the completion of the acquisition process. The transaction makes Hindalco the world’s largest aluminium rolling company and one of the biggest producers of primary aluminium in Asia, as well as being India’s leading copper producer.

In May 2006, the company signed an MoU with the government of Madhya Pradesh for setting up a greenfield aluminium smelter and a captive power plant. The company also entered into a joint venture with Essar Power (MP) Ltd to develop and operate coal mines at Mahan, Madhya Pradesh.

In March 2006, the company acquired an aluminium rolling mill and wire rods facility from Asset Reconstruction Company (India) Limited (ARCIL), belonging to Pennar Aluminium Company Limited.

In January 2006, the company concluded a 4:1 rights issue of its shares on a partly paid basis. It was the largest ever rights issue in the history of corporate India and the first one to issue partly paid instruments.

In April 2005, the company signed an MoU to establish a world class integrated aluminium project in the state of Orissa.