Aditya Birla Group said it has completed the USD 875 million acquisition of Columbian Chemicals Company, an Atlanta-based carbon black maker.

Mr Santrupt Misra a member of the newly formed Board of Columbian Chemicals said that "The completion of the acquisition of Columbian Chemicals is indeed a milestone in our carbon black business. At one stroke it doubles our capacity, from 1 million tons to 2 million tonnes.”

Carbon black additives are used by tyre and other rubber manufacturers. Its products also service the ink and plastic segments.

The acquisition, announced in January, helped the Aditya Birla Group to extend its geographical reach and in giving a foothold in North and South America, strengthening position in Europe and in emerging markets.

Mr Kumar Mangalam Birla chairman of Aditya Birla Group said that "We view the carbon black business as a significant global business in our portfolio. There is a lot to be derived from this coming together of the two entities. Columbian Chemicals' excellent R&D capability, multiple speciality products, the customer connect in North America and South America, coupled with committed teams, will add to the strength of the carbon black business.”

(Sourced from ET)