Processing .....please wait.. 
The article has been forwarded.... 
Hindalco announces JV with ALMEX-USA
Wednesday, 01 November 2006, 20:30 IST
MUMBAI: Hindalco Industries Ltd., India's largest aluminium producer, Wednesday entered into a 
1.55-billion joint venture with ALMEX-USA Inc for the manufacture of high strength aluminium alloy for application in aerospace, sporting goods and surface transport industries.
Hindalco, the flagship company of 49.75 billion Aditya Birla Group, said the proposed JV would be named "Hindalco-AMEX Aerospace Ltd.", in which the company will have 70 percent equity participation, with ALMEX holding the balance 30 percent.
The Los Angeles-based ALMEX, a leading technology supplier and equipment-manufacturing company, will add to Hindalco's high strength aluminium alloy production, a large portion which will be marketed overseas, Hindalco said in a statement here Wednesday.
"India currently has a small demand for high strength aluminium alloy but overtime this demand is likely to grow as well, as India's aerospace sector takes off."
The JV's registered office will be in Maharashtra while the location of the manufacturing facility is under finalisation.
The JV expects to take the production level to 46,000 tonnes, which is likely to be reached in phases over three or four years. Production is expected to commence in the first quarter of 2008.
Source: IANS
1.55-billion joint venture with ALMEX-USA Inc for the manufacture of high strength aluminium alloy for application in aerospace, sporting goods and surface transport industries.
Hindalco, the flagship company of 49.75 billion Aditya Birla Group, said the proposed JV would be named "Hindalco-AMEX Aerospace Ltd.", in which the company will have 70 percent equity participation, with ALMEX holding the balance 30 percent.
The Los Angeles-based ALMEX, a leading technology supplier and equipment-manufacturing company, will add to Hindalco's high strength aluminium alloy production, a large portion which will be marketed overseas, Hindalco said in a statement here Wednesday.
"India currently has a small demand for high strength aluminium alloy but overtime this demand is likely to grow as well, as India's aerospace sector takes off."
The JV's registered office will be in Maharashtra while the location of the manufacturing facility is under finalisation.
The JV expects to take the production level to 46,000 tonnes, which is likely to be reached in phases over three or four years. Production is expected to commence in the first quarter of 2008.
Source: IANS