Hindalco Industries Limited, the flagship metals company of the Aditya Birla group has announced the acquisition of 100% stake in Ryker Base Pvt. Ltd. (Ryker), a wholly owned subsidiary of Polycab India Limited. The acquisition will be made through Hindalco’s subsidiary Renuka Investments & Finance Ltd for approximately Rs 323 crore.
Ryker’s plant for the manufacture of cast and rolled copper wires is located in Waghodia (Gujarat) and has an operating capacity of 225,000 tonnes. Hindalco also operates one of the largest copper smelters in Dahej (Gujarat), with a copper capacity of 345,000 tonnes. This new acquisition will strengthen Hindalco’s copper rod manufacturing capacity, providing a time-to-market advantage, enabling it to meet the growing demand from the electrical and electronics sectors.
Satish Pai, Managing Director of Hindalco Industries says, “Hindalco’s copper is a vital contribution in India’s fast-paced journey towards electrification, urbanisation, renewable energy and e-mobility. Keeping in view the needs of the nation and the industry, Hindalco has taken the step to expand its capacity”.
In this regard, Pai stresses that “we have recently announced two projects: an extrusion plant in Silvassa and a rolled products plant in Hirakud for value-added products. The agreement with Ryker will further enrich our downstream portfolio”.
Hindalco is India’s largest copper producer and makes a significant contribution to the country’s refined copper requirements. Hindalco’s copper products are customized for use in domestic electrification and major sectors in India. Ryker’s copper rod plant uses German technology, consumes less energy and has significantly lower carbon emissions, making the plant well aligned with Hindalco’s ESG approach.
About Hindalco Industries Limited Hindalco Industries Limited is the largest metals company of the Aditya Birla Group. Hindalco, an $18 billion metallurgical powerhouse, is the world’s largest aluminium company by revenue, and a leading copper company. It is also one of Asia’s largest producers of primary aluminium.
Guided by its purpose to build a greener, stronger, smarter world, Hindalco offers innovative solutions for a sustainable planet. Its wholly owned subsidiary Novelis Inc. is the world’s largest producer of aluminium beverage cans and the largest recycler of used beverage cans (UBC).
Hindalco’s copper facilities in India comprise a world-class copper smelter, processing facilities and a captive dock. The copper smelter is one of the world’s largest custom smelters in the world in one location. Hindalco’s global footprint encompasses 48 manufacturing units in 10 countries.
