The Economic Times reports that Aditya Birla Group said it has completed the USD 875 million acquisition of Atlanta-based Columbian Chemicals Company.
“The completion of the acquisition of Columbian Chemicals is indeed a milestone in our carbon nlack business. At one stroke it doubles our capacity, from one million tonnes to two million tonnes,” Santrupt Misra, a member of the newly-formed Board of Columbian Chemicals, said in a company release.
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.
“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,” Aditya Birla Group Chairman Kumar Mangalam Birla said.
The newly-constituted Board for Columbian Chemicals would be chaired by Kumar Mangalam Birla. Other Directors in the Board include Rajashree Birla, Rajiv Dube, Santrupt Misra, D D Rathi and Kevin Boyle, CEO, Columbian Chemicals.