Italian aluminium window and door components manufacturer Master Group has unlocked a new chapter in its growth strategy as European private equity platform Equinox IV acquired a 60 per cent stake in the company. The investment, made in partnership with the founding Loperfido-Lacatena family, is aimed at reinforcing Master’s international expansion, boosting its production capacities and pursuing strategic acquisitions, with the ambition of building a leading European industrial group. The acquisition is the second investment in Equinox IV’s log book. The Loperfido-Lacatena family retains a 40 per cent stake, with co-founder and CEO Michele Loperfido would continue to lead the business alongside his children, Annacarla and Stefano, and the existing senior management team. To know the...
Hydro and Mercedes-Benz have expanded their long-standing partnership through a new long-term agreement covering the supply of low-carbon primary and recycled aluminium, strengthening efforts to reduce emissions across the automotive supply chain. The agreement will cover at least 10 per cent of Mercedes-Benz's primary aluminium demand and extend beyond 2030. Under the agreement, Hydro will progressively lower the carbon footprint of the primary aluminium supplied to Mercedes-Benz to 3.5 kg of CO2e per kg by 2028. The partnership will also introduce Hydro CIRCAL recycled aluminium, which contains at least 75 per cent post-consumer aluminium scrap, into Mercedes-Benz production from 2027. The agreement builds on the companies' collaboration established in 2022 and provides long-term demand...
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In a move towards self-reliant India, Kolkata-based firm Titagarh Firema has become India’s first company to manufacture aluminium-bodied coaches. The first fleet of these coaches are supposed to be supplied to Pune Metro for use in its rail-based transit system. A year ago, Titagarh Wagons and its subsidiary Titagarh Firema SpA won an international tender by bidding the lowest for designing, manufacturing, and supplying 102 aluminium-bodied metro rail coaches. Secretary of Ministry of Housing and Urban Affairs (MoHUA) Durga Shankar Mishra tweeted that a part of the project would be delivered by June 2021. He said, “In a huge leap towards Atmanirbhar Bharat, Titagarh Firema, a firm based in Kolkata, is the first Indian company, which will manufacture aluminium bodied metro coaches for...
Joseph Hamilton, Guyana’s Minister for Labour on 17 th August’20 has prepared to lead a government delegation into talks with RUSAL. The Minister pledged RUSAL and other companies that they must allow workers from being represented by trade unions. Hamilton said: “Workers will not be denied their right to form representative organisations or to be represented by union or unions of their choice. That is the policy position of the Ministry and the policy position of the government.” Joseph Hamilton pledged to abide by Guyana’s constitution and law in dealing with workers’ rights. The Labour Minister and officials of the Ministry of Natural Resources are due to discuss whether the RUSAL-controlled Bauxite Company of Guyana Inc. (BCGI) would be restarting operations at its Upper Berbice River...
Bahrain exported 38,300 tonnes of crude metals and alloys to the US in the first five months of 2020, from 63,500 tonnes exported in the first five months of 2019. This records a decrease of 40% or 25,200 tonnes year-on-year, according to the latest Mineral Industry Survey report from US Geological Survey. In May 2020, exports reduced by 12.4% or 1,600 tonnes year-on-year. Exports to the US stood at 11,300 tonnes as compared to 12,900 tonnes in May 2019. On a month-on-month comparison, crude metals and alloys export climbed by 90% from 5,940 tonnes. Exports of aluminium semi-finished products (plates, sheets, bars, etc.) to the US stood at 16,500 tonnes in January-May 2020, a decline of 44.26% from 29,600 tonnes in January-May 2019. In May 2020, exports of these products stood 78% lower...
According to a recent report, Co-owner of Jamalco alumina refinery, Clarendon Alumina Production Limited (CAP), will pay off a large portion of its debt. This will improve its overall equity position in the lay up to the refinery’s planned listing on the stock exchange. The company will secure the funds for paying off the debt from the Government of Jamaica, GOJ. Through CAP, the Government is a partner with Noble Group in the refinery. “CAP, through a loan from the GOJ, will repay debt obligations due to the Noble Group, in the amount of approximately US$136.7 million,” said Minister of Finance and Planning Dr Nigel Clarke in a statement to Parliament this week. “The transactions improve CAP’s equity value,” he said. CAP holds 45 per cent of Jamalco, while the Hong Kong-based Noble Group...
Shangqiu Yangguang Aluminium Product Co.,Ltd. has joined Aluminium Stewardship Initiative (ASI) as new Production & Transformation member. This brings the total number of members working toward a responsible aluminium value chain to 129. Shangqiu Yangguang Aluminium Product Co.,Ltd., established in July 2007, focuses on technological innovation and independent research and development. The company has established “Henan Province aluminium alloy material and processing engineering technology research center”. The company’s products include Alloy 1xxx, 3xxx, 8xxx and etc. With the enhancement of brand image of light gauge foil stock and heavy gauge pharmaceutical foil stock, Shangqiu Yangguang Aluminium Product Co.,Ltd. has become a reliable supplier for well-known domestic enterprise....
Indonesia’s state aluminium company PT Indonesia Asahan Aluminium (Inalum) expects to stop importing alumina by 2022 as it expected to complete the construction of alumina refinery, but the COVID-19 pandemic might cause delays in the planning. The country’s demand for the alumina has been supported by importation from the multiple nations like Australia, Austria, Bahrain, China, Canada, France, Germany, India, Netherlands, South Korea, etc. Indonesia’s import of alumina during 2017-18 has been recorded with 667,209 tonnes. In 2017 the alumina import volume was 227,316 tonnes, whereas in 2018 it surged to 439,893 tonnes, rise by 93.51%. The Island nation’s alumina import in 2019 has been recorded with a marginal drop by 0.92%, as the import volume remained at 435,820 tonnes and the revenue...
US dollar fell for four straight trading days, and recorded a new low since August 7 of 92.76 on Monday as weak results from a regional manufacturing survey added to doubts sowed by grim data last week that the US recovery is on shaky grounds. Three-month LME aluminium closed 0.92 per cent firmer at US$ 1,757 per tonne on Monday. Open interest fell 1,440 lots to 807,000 lots. It is likely to move between US$ 1,735-1,765 per tonne today. As of Monday, August 17, LME aluminium cash (bid) price and LME official settlement price continued to decline for the second consecutive day to US$ 1719.50 per tonne from US$ 1730 per tonne. 3-months bid price and 3-months offer price stood at US$ 1757 per tonne, down by US$ 9 per tonne from US$ 1766 per tonne. Dec 21 bid price and Dec 21 offer price came...
The A00 aluminium ingot price has increased by RMB 120 per tonne on Tuesday, 18 August 2020 after two consecutive drops. The price now stands at RMB 14540 per tonne today and is expected to move within a range of RMB 14520-14560 per tonne. In Foshan and Wuxi, the price has inched up by RMB 120 per tonne each to stand at RMB 14490 per tonne and RMB 14530 per tonne on Tuesday, 18 August 2020. Their average prices are expected to range within RMB 14470-14510 per tonne and RMB 14520-14540 per tonne. Aluminium prices in Hangzhou and Chongqing has increased to come in at RMB 14520 per tonne and 14420 per tonne, up RMB 100 per tonne and RMB 110 per tonne. Aluminium ingot prices in Shenyang, Tianjin, Linyi, and Gongyi has risen to RMB 14565 per tonne, RMB 14500 per tonne, RMB 14630 per tonne, and...
Novelis Inc., the world leader in aluminium rolling and recycling, on 17 th August’20, declared that it has partnered with Nespresso, the pioneer of premium portioned coffee, to roll-out the first coffee capsule made from 80% recycled aluminium. The highly recycled, a sustainable alloy is featured in Nespresso's new coffee capsules. Stephen Boney, Vice President, Specialties, Novelis Europe, said: "This achievement is an important step in helping Nespresso reach its sustainability goals. We have a longstanding partnership with Nespresso that is focused on implementing more sustainable manufacturing processes throughout the supply chain. As such, we have increased the amount of recycled aluminium content in coffee capsules and developing additional end-of-life recycling solutions for...
AMAG Austria Metall AG has acquired a 70 % share of the German company Aircraft Philipp Gruppe (ACP). The acquisition is expected to complete in late autumn.The Aircraft Philipp Group will operate and be managed as an independent company of the AMAG Group. “We are pleased to be integrating such a first-class company as ACP into the AMAG Group. AMAG and ACP are established suppliers to the aviation industry, and thereby well positioned to meet the most stringent demands on quality and schedule and delivery performance,” said Gerald Mayer, CEO of AMAG Austria Metall AG. Aircraft Philipp Gruppe (ACP), headquartered in Übersee / Chiemsee, amounts 50 years of experience in the manufacture of assembly-ready metal parts for the aviation and aerospace industry. The mechanical machining and...
Who hasn’t heard the saying “News at Fingertips”, especially when the whole world is moving at its fastest pace and when everybody is looking out for information at just a Click Away? So, to cater to the need to stay updated with all the latest developments in the aluminium value chain market even when you are on the move, AlCircle has launched a news app named AlCircle News . This app is specially curated to facilitate the readers with easy access to the latest news and events of the Aluminium world at literally a few clicks away and to address the changing consumption patterns of people who prefer apps over a website. AlCircle, like always a committed aluminium information platform, offers news, reports, blogs, interviews, and event calendars on this app with user-friendly, easy to...
Japanese manufacturers of aluminium metals saw their output drop in the April-June quarter as automakers temporarily close-down plants to control the spread of the COVID-19 virus and to match slide in demand. The industry is expecting a gradual pick-up in metals used in automobiles and other industries toward March’21, but not enough to bring demand back to pre-pandemic levels, suggesting a smaller annual import of raw materials such as primary aluminium ingots. Japan Aluminium Association said: “The nation’s production of aluminium rolled products slid 15% in the quarter.” The auto segment accounts 15-18% of the supplies of rolled aluminium products. The recovery in car production has been a vital factor for the suppliers’ recuperation from devastated earnings. UACJ Corp Japan’s biggest...
Sri Lanka’s premier producer of high-quality aluminium extrusions for high-rise buildings and other applications Lanka Aluminium Industries PLC appoints Dinal Peiris as Chairman. Mr Peiris is an experienced and multi-skilled business professional, who was holding the position of Managing Director in the organization since 1999. Lanka Aluminium has grown and diversified into many related businesses under the leadership of Dinal Peiris. The company is recognized undoubtedly the most innovative and technically competent company with in-house ability for high tech applications. Peiris completed his degree in Mechanical Engineering from The City University, London and his MBA from the prestigious London Business School. He is an associate member of the Institute of Mechanical Engineers, UK....
According to the Shanghai Metals Market, the Chinese secondary aluminium producers operating rates increased by 2.3 percentage points on the month but fell by 5 percentage points from a year ago to stand at 50.3 per cent in July. Recovery in domestic and overseas automobile demand resulting in the hike in orders at some of the secondary aluminium alloy plants could be attributed to the increased secondary aluminium operating rates in July. In June, the average secondary aluminium operating rates were 48 per cent after registering a month-on-month fall of 0.7 percentage points. In May, on the other hand, the operating rates had increased by 1.6 percentage points from the previous month to stand at 48.69 per cent. Higher arrivals of aluminium alloy ingots from overseas to China in June...
Metro Mining Limited has announced that it is moving into the planned 2020 wet season shutdown earlier than usual. The decision has been made given the ongoing pandemic of COVID-19 which continues to have an adverse impact on the market demand and price in the aluminium industry. Mining at the Bauxite Hills Mine in Queensland has already started to ease off and shipping is expected to stop earlier than usual in mid-September until April 2021, said the company in a statement. Metro reasoned that the travel restrictions hampered the company’s ability to finalise offtake contracts. “We are extremely disappointed that despite a record performance from the teams on-site, and the efforts of our marketing team we have been unable to secure further sales that would have meant a very successful...
India’s imports of aluminium scrap from the US came in at 4,190 tonnes in May, with a month-on-month decrease of 60%. India had imported 10,400 tonnes in April 2020. On a yearly basis, imports reduced by 83% from 24,200 tonnes in May 2019, as updated by the US Census Bureau. India imported 111,000 tonnes of aluminium scrap in the first five months of 2020, from 107,000 tonnes imported in the first five months of 2019. That was an increase of 3.74% year-on-year. India’s imports of total aluminium (semi-finished products, crude metals and alloy and scrap) from the US stood at 4,260 tonnes in May 2020. That was down 83% from 24,400 tonnes in May 2019. Imports declined by 60% from March’s imports of 10,600 tonnes. In the first five months of 2020, total imports came in at 111,000 tonnes, from...
The economy of Colombia is the fourth largest in Latin America as measured by gross domestic product. Colombia has experienced a historic economic boom over the last decade. In 1990, Colombia was Latin America's 5th largest economy and had a GDP per capita of only $1,500, by 2018 it became the 4th largest in Latin America, and the world's 37th largest. Aluminium foil importation market of Colombia during 2017-19 exhibited steady growth, as the import volume recorded was 6849 tonnes and the revenue expenditure stood at $27.64 million. The projected import for 2020 has been analysed at 5265 tonnes and expenditures to reach $18.26 million. However, when the analysed import volume and expenditures for 2020 has been added with the previous three years, it depicts 11,754 tonnes and $45.90...
Vedanta Limited has announced the appointment of Sunil Duggal as its new Chief Executive Officer. Sunil Duggal is the former CEO of Hindustan Zinc Ltd. Anil Agarwal, Chairman, Vedanta Ltd Said: “We are delighted to welcome Sunil Duggal as our CEO. Sunil is a proven leader with a wealth of strategic executive experience. He has motivated and lead teams to deliver high standards of operational excellence, stakeholder management, best-in-class people practices, technology, safety, ESG and carbon footprint.” Sunil, associated with Vedanta for the past 10 years, was given additional charge as Vedanta’s Interim CEO in March 2020. Sunil takes over as CEO at a time when the company is gearing up for the next phase of growth with full commitment to the nation’s call for `Atmanirbhar Bharat’. Over...
