Fairfax India completes investment in Global Aluminum Private Limited

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

TORONTO, Oct. 11, 2024 (GLOBE NEWSWIRE) — Fairfax India Holdings Corporation (“Fairfax India” or the “Company”) (TSX: FIH.U) announces that it, through its wholly owned subsidiary, has previously announced an investment in Global Aluminum Private Limited (“Global Aluminum”) for INR 6,955 million (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 certain items -closing obligations.

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

About Fairfax India

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