In the last 9 months, the Indian company accumulated a negative balance of R$ 1 million and, therefore, decided to sell the factory to a company from Minas Gerais for only 1 real      

In about 9 years of full activity in Ouro Preto, Minas Gerais, Hindalco do Brasil, a company of the Indian group Aditya Birla, announced last Thursday (3rd) the sale of its factory in Saramenha to the company Terrabel Empreendimentos, which specializes in earthmoving and mining machinery. Terrabel closed a deal worth R$1 and took over all the manufacturing activities for alumina production.

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Understand the case

According to Maurício Gontijo, CEO of Terrabel, Hindalco in Minas Gerais was going through a difficult phase, accumulating many losses, and the company's data already showed a negative value over 9 months. And so, because of that, the factory was sold for just R$1.

The Indian company had an accumulated loss of BRL 1 million per month, and only in mid-February did they have a good result. However, even so, the Indian company preferred to practically "pass" the debt to the Minas Gerais company. Terrabel's CEO said that they accepted the proposal, and the intention now is to make the company grow again.

Still according to Gontijo, the objective is to resume activities and keep all the current employees of the factory in their jobs, aiming at resuming the company's growth and maintaining the factory's operation with greater profitability, in addition to creating value for the local society. around the company.

Ouro Preto City Hall is in favor of restructuring the factory of the Indian company

The mayor of Ouro Preto, Angelo Oswaldo, during a meeting with the new managers of the former Indian company, highlighted the main objective of the moment, which is to realign the interests of the city with the management that took over the factory.

The deputy mayor, Regina Braga, the secretary of Economic Development, Innovation and Technology, Felipe Guerra, and the strategic consultant of Hindalco Brasil, Eli Murilo Araújo, participated in the meeting. According to the mayor, the meeting was extremely important for the economy of Ouro Preto, as there was consolidation of the continuity of the industrial operation of the former Indian company Saramenha, now under new management. Oswaldo also stated that jobs will be maintained at the factory.  

Former Indian company Saramenha will now be called Actech

The Indian command of the factory had its departure announced last Thursday (3), with the official signature of the Indian Vishal Raman Singh, from Hindalco, and also Maurício Gontijo, from Terrabel Empreendimentos.

In the note issued and signed, the new name of the company was revealed, which was named Alumina Chemical Technology, or Actech. According to the note issued, Hindalco made a special thank you to everyone in the region of Ouro Preto, the state of Minas Gerais, and to all federal, state and municipal public bodies, which welcomed them over the course of almost 9 years in which were present in the city of Ouro Preto.