The sale will not have an impact on Hindalco’s financial health because the Kollur plant has not been in operation since March 2016, the BSE filing said
New Delhi: Hindalco has sold its Kollur plant in Telangana, which is primarily into the manufacturing and sales of aluminium foils, to Mundhra Alufoil, the company said on Friday. In a filing to the Bombay Stock Exchange (BSE), Hindalco said, “The company has sold its business undertaking at Kollur, Telangana on slump sale basis to Mundhra Alufoil through a Business Transfer Agreement dated April 26, 2019.”
Kollur plant not in operation since March 2016
The sale will not have an impact on Hindalco’s financial health because the Kollur plant has not been in operation since March 2016, the document said. “Hindalco focuses on aluminium downstream with presence across rolled products, extrusions, foil and packaging segments,” the statement said.
Where are Hindalco plants located?
Hindalco Industries’ rolled products plants are located at Hirakud in Odisha, Belur near Kolkata, Mouda near Nagpur, Renukoot in Uttar Pradesh, and Taloja near Mumbai, according to the company’s website.
On the other hand, its extrusion plants are located at Renukoot and Alupuram, Kerala, the website said.