Hindalco Industries acquires Ryker Base for Rs 323 cr

Hindalco Industries has acquired Ryker Base, a wholly-owned subsidiary of Polycab India, for an enterprise value of Rs 323 crore.

The acquisition will be through Hindalco’s wholly-owned subsidiary Renuka Investments & Finance, with a purchase consideration for 100 percent equity stake, subject to customary adjustments for working capital and net debt as on the date of closing.

The acquisition will strengthen Hindalco’s copper rod manufacturing capacity by providing a time-to-market advantage, allowing the company to cater to the growing demand from electrical and electronics sectors.

The acquisition takes forward Hindalco’s downstream strategy as the company recently announced two projects – a greenfield aluminium extrusions plant in Silvassa, and a flat-rolled products facility in Hirakud – aimed at enhancing product mix towards more value-added products. The Ryker deal will further enrich its portfolio of downstream products.

Ryker’s copper wire rods facility uses German technology, consumes less energy and is significantly lower on carbon emissions.

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