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Novelis, a subsidiary of Hindalco Industries, has completed its acquisition of US-based aluminum rolled products producer Aleris Corporation. The deal is expected to generate about USD 150 million in synergies.
Novelis agreed to acquire Aleris, a global rolled aluminum products supplier, for about $2.6 billion including assumed debt, to diversify its portfolio and expand in Asia and automotive. The deal was announced on July 26, 2018.
