"The company delivered yet another strong quarterly results, despite the challenging business environment, rising input costs and surge in imports," Hindalco said in a statement. "The company continues its focus on strengthening its balance sheet, resource securitisation and its strategy to grow in the downstream businesses to deliver long-term shareholder value," the company added. Novelis, it said, will continue to play a crucial role in supporting the next generation of automotive innovation and design, as the market demand for lighter and more fuel-efficient vehicles grows. The applications for acquisition of the US-based aluminium producer Aleris filed with the concerned authorities were at various stages of approval, it added. "We expect the transaction to close in about 9-15 months from the date of the announcement of the transaction. Novelis has secured firm commitments from banks for financing the Aleris acquisition," it said.