 "Nalco rides on London Metal Exchange gains, sees room for more price hikes")
Novelis Inc, one of the leading aluminum rolling and recycling companies in the world, today announced that the European Commission has approved its proposed acquisition of Aleris Corporation.
The approval is subject to the sale of Aleris’ plant in Duffel at Belgium, which produces aluminum for the automotive and specialties markets, said the company in a statement.
Hindalco Industries’ US-based subsidiary Novelis is at present working to sell the plant to potential buyers and sign a definitive agreement, subject to European Commission approval, it said.
“Today’s announcement is another step forward in bringing Novelis and Aleris together, which will benefit
