The US federal government shutdown that started on October 1, 2025, has stalled the review deadline of Hindalco Industries Ltd’s USD 125 million acquisition of alumina firm AluChem Companies Inc. The metal major’s deal is among several cross-border transactions affected. The Committee on Foreign Investment in the United States (CFIUS) has paused all statutory deadlines, putting the review process on hold until operations resume.
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The company confirmed in a regulatory filing on October 23, 2025, that the CFIUS process for the AluChem acquisition remains on hold until normal operations resume. Once the agency formally reaccepts the filing, the review period may stretch up to 105 days, the filing said. “The shutdown, which began on October 1, has led to the suspension of statutory deadlines under the CFIUS review framework,” Hindalco stated.
This delay has added uncertainty to Hindalco’s first major US acquisition in speciality alumina, a deal designed to strengthen its global position in low-soda tabular alumina, a key material used in high-performance ceramics and electric mobility applications.
In June, Hindalco, part of the Aditya Birla Group, announced plans to acquire 100 per cent of Ohio-based AluChem Companies through its US subsidiary, Aditya Holdings LLC. AluChem operates three advanced facilities with a combined capacity of 60,000 tonnes annually. The deal is a cornerstone of Hindalco’s goal to scale its speciality alumina capacity to one million tonnes by FY2030.
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The CFIUS process began in August, when Hindalco filed a short-form declaration on August 6, which was accepted on August 12. A 30-day assessment concluded on September 10, after which CFIUS requested a long-form notice filed on September 30, just before the shutdown froze timelines.
Despite the setback in this plan, Hindalco’s overall performance remained steady. Shares closed 0.64 per cent higher at INR 790 (USD 8.95) on Thursday. However, retail sentiment remains “bearish” on social platforms like Stocktwits, compared to “neutral” a month earlier. Still, the stock has risen 31.5 per cent year-to-date, with a strong indication to investor confidence in its long-term growth strategy.
The acquisition, when cleared, is expected to boost Hindalco’s value-added materials portfolio, aligning with the growing demand for EVs, semiconductors, and precision ceramics.
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