Fairfax India completes investment in Global Aluminum Private Limited

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(Note: All dollar amounts in this press release are in US dollars unless otherwise noted.)

TORONTO, Oct. 11, 2024 (GLOBE NEWSWIRE) — Fairfax India Holdings Corporation (“Fairfax India” or the “Company”) (TSX: FIH.U ) announces that, through its wholly owned subsidiary, it has completed its previous announced investment in Global Aluminum Private Limited (“Global Aluminum”) for INR 6.955 billion (approximately $83 million at current exchange rates) of which the company has retained INR 700 million (approximately 8, $3 million at current exchange rates) until the sellers complete a given publication. – Closing obligations.

Global Aluminum is India’s third largest aluminum extrusion manufacturer with in-house capabilities to produce anodized and powder coated aluminum products. Its products have a wide range of applications, including the architecture, renewable energy, automotive, and electronics and electrical industries. Global Aluminum is headquartered in Hyderabad, where it operates two plants. Anil Agarwal, Founder and CEO of Global Aluminum will continue in his role and manage Global Aluminum’s operations.

About Fairfax India

Fairfax India is an investment holding company that aims to achieve long-term capital appreciation while preserving capital by investing in public and private equity securities and debt instruments in India and Indian companies or other business with customers, suppliers or business conducted primarily in India. , or depending on, India.