Hindalco bets big on aluminium alloys

Hyderabad: Hindalco Industries of the Aditya Birla Group has targeted the automobile and aviation sectors to drive it foray into aluminium alloys.
Hindalco is investing about Rs 150 crore in Hindalco Almex Alloys Limited (HAAL), a joint venture company between Hindalco and Almex of US, to develop high-strength aluminium alloys for the aviation industry.
Hindalco holds 70 per cent equity in the project, which is coming up in Aurangabad, Maharashtra. It is expected to be ready in a year. The plant is expected to be a Rs 700-crore company once it reaches the full capacity of 45,000 tonnes.
The company is looking at tying up with tier 2 and tier 3 customers, who are essentially the component suppliers to aircraft manufacturers such as Boeing and Airbus.
22/11/07 Business Standard

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Categories: General Aviation Nov 2007, New Nov 2007