|
Private Sector | Not Classified - india | PID: 175632
|
Metals group Liberty House will invest $1 billion to grow its business in India within the next three years, its chief executive said
India is a huge market, it's a sleeping giant. We are very focused on growing our downstream footprint in India," chief executive Douglas Dawson told Reuters on the sidelines of an aluminium conference in London
Liberty House Group, which has been snapping up distressed steel and aluminium assets around the world, is currently the preferred bidder for auto component manufacturers Amite Auto India, the company said last month
Amite Auto supplies major carmakers such as Tata Motors, Maruti Suzuki and Ford
Liberty House also made a binding offer in January for Rio Tint's, aluminium smelter in Dunkirk, France, the largest in Europe
What we are more focused on is growing our value-add assets," Dawson said
Rio Tinto said in a statement at the time that the offer was worth $500 million subject to final adjustments' and it expected to complete the sale by the second quarter
In February, Liberty's owner Sanjeev Gupta said his company had no plans to slow its rapid pace of acquisitions over the coming year and could look to raise capital through debt or equity markets
Dawson said the company was on track to list its steel assets by the end of the year
| Updated on: 25 - Apr - 2018
|
|
|
|