Hindalco Industries completed the acquisition of Ryker Base from Polycab India for $22m.

Hindalco Industries, an aluminium and copper manufacturing company completed the acquisition of Ryker Base, a manufacturer of cast and rolled copper wire rods, from Polycab India, a manufacturer of cables and wires and allied products, for $22m. “Hindalco’s Copper is a vital input into India’s accelerating journey on Electrification, Urbanisation, Renewables and E-Mobility. Keeping the needs of the nation and industry in mind, Hindalco has taken the step to expand its capacity. The acquisition takes forward Hindalco’s downstream strategy. We had recently announced two projects – a greenfield aluminium extrusions plant in Silvassa, and a flat-rolled products facility in Hirakud – aimed at enhancing our product mix towards more value-added products. The Ryker deal will further enrich our portfolio of downstream products,” Satish Pai, Hindalco Industries Managing Director.