Bigger India
British-Indian steel tycoon makes bid for French aluminium wheels maker
Sanjeev Gupta, who has been on an acquisition spree to bolster his GreenSteel plans to make the steel industry more sustainable, is also currently in the process of acquiring European aluminium smelter, Aluminium Dunkerque.
British-Indian steel tycoon Sanjeev Gupta has made a formal bid to acquire the only French manufacturer of aluminium wheels, AR Industries.
Gupta’s global industrial group, GFG Alliance, submitted the bid to the court administrators for AR Industries (ARI) at Chateauroux in the Centre-Val de Loire region of France.
If GFG Alliance is successful in its bid, it could help save nearly 400 jobs as part of a plan to rescue and revive ARI, the only French manufacturer of aluminium wheels.