Hydro Extrusions has entered into a Business Transfer Agreement to sell its general extrusion operations in Kuppam in India to Hindalco Industries Limited for USD 33 million on a cash free and debt free basis. The transaction is structured as an asset sale and includes the Kuppam plant with approximately 245 direct employees and around 224 contract employees. Closing of the sale is expected to take place during the first quarter 2022.
Hydro Extrusions has entered into a Business Transfer Agreement to sell its general extrusion operations in Kuppam in India to Hindalco Industries Limited for USD 33 million on a cash free and debt free basis. The transaction is structured as an asset sale and includes the Kuppam plant with approximately 245 direct employees and around 224 contract employees. Closing of the sale is expected to take place during the first quarter 2022.