Aditya Birla Group completes Columbian buy

Mumbai : TheAditya Birla Group has completed the acquisition of the Atlanta-based Columbian Chemicals Company , after obtaining all regulatory approvals in seven different jurisdictions . The acquisition of Columbian Chemicals , which was made at a priceof $875 million ,catapultstheAditya Birla Group to the world's No. 1 carbon black producer.

The newly constituted board of directors for Columbian Chemicals is chaired by Kumar Mangalam Birla , the Aditya Birla Group chairman , while other directors include RajashreeBirla ,Rajiv Dube, SantruptMisra , D D Rathi and Kevin Boyle , CEO, Columbian Chemicals . "We viewthecarbon black business as a significant globalbusinessin our portfolio .There is a lot to be derived from this coming together of the two entities ," Kumar Mangalam Birls said .