Aditya Birla Nuvo selling carbon black business

ERJ staff report (BC)

Mumbai – Aditya Birla Nuvo (ABD) has said in a stock exchange filing that it will sell its carbon black business, Hi Tech Carbon, to SKI Carbon Black (another company of the Aditya Birla Group) for about €203m.

The move is aimed at reducing debt.

ABD, which reported nearly €278m sales in 2012, has three plants in India for making carbon black, but considers it would be unlikely to capture a large enough share of the global carbon black market, officials said in the…

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