The Aditya Birla Group on Tuesday said it has completed the acquisition of the Atlanta-based Columbian Chemicals Company, having obtained all regulatory approvals in seven different jurisdictions.
The deal is worth $875 million.
Columbian Chemicals is a carbon black producer. The diversified Birla Group, largely known for its cement products, said in a release on Tuesday the acquisition would catapult it to the world's top carbon black producer.
"The completion of the acquisition of Columbian Chemicals is a milestone in our carbon black business. At one stroke it doubles our capacity from one million tonnes to two million tonnes," Santrupt Misra, a member of the newly-formed board of Columbian Chemicals, said in the release.
Carbon black additives are used by tyre and other rubber manufacturers. Its products also service the ink and plastic segments.
The acquisition, initially announced in January, will help the Aditya Birla Group to extend its geographical reach, giving it a foothold in North and South America as well as strengthening its position in Europe and emerging markets.