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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Maan Aluminium reported net sales of INR 49.93 crore in the June quarter 2020. That was down 63.26% year on year from INR 135.91 crore in June 2019. Net profit declined by 29.39% to stand at INR 1.61 crore in June quarter 2020. The company had reported net profit of INR 2.28 crore in June quarter 2019. EBITDA stood at INR 3.65 crore in June 2020, a drop of 32.78% from INR 5.43 crore in June 2019. Maan Aluminium EPS has decreased to INR 2.38 in June 2020 from INR 3.37 in June 2019. Maan Aluminium Limited is an India-based company. The company is engaged in the business of manufacturing of aluminium profiles and other related activities. The Company has a manufacturing facility located at Pithampur Industrial Area, Pithampur, Dhar District, Madhya Pradesh.
Slovakia is considered a high-income advanced economy and has a mixed economic system in which there is a variety of private freedom, combined with centralized economic planning and government regulation. Slovakia is a member of the European Union. The major industries of the nation are heavy engineering, armaments, automobiles, iron and steel production, nonferrous metals, and chemicals. Bauxite import of the European nation has remained unstable during 2017-19, as the export volume stood at 27,325 tonnes and revenue expenditure stood at $9.05 million. The estimated export for 2020 has been analysed at 4685 tonnes and the expenditure to remain at $1.44 million. However, when the analysed export volume and expenditure of 2020 gets summed with the existing three years it depicts 32,010...
Arconic Corporation, a leading provider of aluminium sheet, plate and extrusions, as well as innovative architectural products, reported revenue of $1.2 billion in the second quarter 2020, down 38% year over year on weaker volumes across all segments and most end markets primarily due to the impact of the COVID-19 pandemic. Net loss stood at $92 million in Q2 compared with net income of $5 million in Q2 2019. Second quarter 2020 Adjusted EBITDA was $94 million compared with $211 million in second quarter 2019 on lower volumes due to the impact of the COVID-19 pandemic partly mitigated by cost reduction actions. Tim Myers, Chief Executive Officer, commented, “As we launched a new company in the midst of a global pandemic, we quickly responded to keep our employees safe and continue supply...
Showing grief and disgust, Canada’s manufacturing industry has condemned the new aluminium import tariffs imposed by the Trump Government. They are worried about the adverse economic impact that the tariffs may cause, slowing the recovery from the COVID-19 pandemic. Industry experts and groups, which represent companies whose supply chains rely heavily on aluminium, call the new tariffs “unjustified and unnecessary.” “It’s very disheartening that the U.S. would take this action,” said Dennis Darby, chief executive of the Canadian Manufacturers and Exporters, which represents more than 2,500 manufacturers across the country. “The last thing that any industry needs right now is extra costs,” he added. He fears the tariffs will hurt the efforts putting in for restoring the Canadian and...
Three-month LME aluminium rose 1.34% to end at US$1,783 per tonne on Monday. Open interest declined 2,494 lots to 799,000 lots as shorts reduced positions. As of Monday August 10, LME aluminium cash (bid) price stands at US$ 1730 per tonne, LME official settlement price stands at US$ 1730 per tonne; 3-months bid price stands at US$ 1766 per tonne, 3-months offer price is US$ 1766 per tonne; Dec 21 bid price stands at US$ 1840.50per tonne, and Dec 21 offer price stands at US$ 1840.50per tonne. The LME aluminium opening stock stood at 1621400 tonnes. Live Warrants totalled 1372025 tonnes, and Cancelled Warrants were 249375 tonnes. LME aluminium 3-months Asian Reference Price is hovering at US$ 1760.53per tonne. SHFE Aluminium Price Trend Benchmark aluminium price for SHFE decreased to stand...
The A00 aluminium ingot price has continued to decline in China by RMB 110 per tonne to stand at RMB 14,470 per tonne, as of Tuesday, August 11, according to the Shanghai Metals Market. Data shows the average prices are expected to range between RMB 14,450 per tonne and RMB 14,490 per tonne, with spot contract to be traded at a premium price of RMB 70-110 per tonne, up by RMB 20 per tonne from the previous day. Linyi has seen the highest downfall in primary aluminium ingot price today among all other major Chinese cities. In Linyi, the price has decreased by RMB 170 per tonne to RMB 14,610 per tonne, followed by the decline of RMB 140 per tonne in Gongyi to RMB 14,450 per tonne. The price in Wuxi and Hangzhou has declined by RMB 120 per tonne to come in at RMB 14,470 per tonne, while that...
TheArsenale, a company founded by Frenchman Patrice Meignan that market themselves as ‘the ultimate marketplace for the independent builders and the most innovative studios in the mobility sector and all its forms. They have a significant footprint to the well-heeled Chinese market via an outlet in Macau. Their partner this time around is an automotive brand and design studio based in Jakarta, Katalis Company, who in collaboration with the French automotive gallery has launched an electric motorcycle with a vintage-inspired design. The motorcycle called Katalis EV.1000 TheArsenale special edition is the newer edition of its predecessor, Katalis EV.500 which was released in April 2020. Joseph Sinaga, Head of Strategy, Katalis, “Initially, we were asked by TheArsenale to display the Katalis...
According to the data shown by the General Administration of Customs, China’s unwrought aluminium and aluminium semis exports recorded a month-on-month hike of 5.5 per cent in July 2020. Following a decline in the month earlier from 382,900 tonnes in May to 352,485 tonnes, China’s unwrought aluminium and aluminium semis exports in July increased to 373,000 tonnes. In May as well, the exports declined month-on-month by about 13.17 per cent from 441,000 tonnes. On a year-on-year basis, China’s exports of unwrought aluminium and aluminium semis in July 2020 stood down by 23.3 per cent, showed the data. In the first seven months of the year, the exports totalled 2.74 million tonnes, down by 21 per cent from the same period last year. China’s exports of unwrought aluminium and aluminium...
Indian Railways initiative for Sambalpur Railway Division to get a Routine Overhaul (ROH) depot near Sarla railway station needs to be accomplished by November 2021. Pradeep Kumar, Divisional Railway Manager (DRM), Sambalpur, East Coast Railway said: “Work on the ROH project began in March this year but had to be stopped due to the lockdown. Subsequently, work resumed on April 27. We have set a target to complete the work by November 2021.” The overhaul depot is being developed over land measuring 1400x56 metres at an estimated cost of INR 90 crore. The Rail India Technical and Economic Service (RITES) are executing the project. Presently, the wagons are routed to a depot in Visakhapatnam for overhauling. The upcoming depot near Sarla station will have the magnitude to maintain 100 wagons...
The announcement for the imposition of 10% surtax on Canadian aluminium by the Donald Trump administration has incited strong reactions from Canada. The management of Alcoa Canada that has been operating an aluminium smelter in Baie-Comeau, is highly disappointed with this decision as it will unsettle markets. Michel Desbiens, the President of the union at the Baie-Comeau plant said: “Enough of this uncertainty that hangs over year after year. This is the second time that these tariffs have been imposed on Canadian aluminium production. They were lifted in May 2019 after being in effect for a year.” Desbiens also said: "It's getting tiring to always have a sword of Damocles over your head repeatedly since the start of President Trump's mandate. Especially since, what he wants to do, it...
Premium grade industrial materials are crucial for economical filtration processes. CeramTec’s porous ceramic membrane tubes that are used for cross-flow membrane filtration amalgamates vital properties that support customers with upgraded functionality and eventually save cost on filtration units. The multi-channel tubes made from alumina are designed for nano-, ultra-, and micro-filtration in multiple of industries to separate substances and solids from liquids, including food and beverage, pharmaceutical, chemical, electroplating, environmental technology and biotechnology. Concerning the number of channels and length of the tube, the product delivers the maximum performance that technology currently permits. The ceramic multi-channel element as the supporting tube onto which the...
South Korea's imports of aluminium scrap from the US stood at 22,300 tonnes in May, with a year-on-year increase of 5.69%. South Korea had imported 21,100 tonnes in May 2019. On a monthly basis, imports reduced by 7.4% from 24,100 tonnes in April 2020, as updated by the US Census Bureau. In the first five months of 2020, South Korea imported 120,000 tonnes of aluminium scrap, from 114,000 tonnes imported in the first five months of 2019. This marked an increase of 5.26% year-on-year. South Korea's imports of total aluminium (semi-finished products, crude metals and alloy and scrap) from the US stood at 23,900 tonnes in May 2020, an increase of 4.82% from 22,800 tonnes in May 2019. Imports declined by 9.4% from April’s imports of 26,400 tonnes. In January-May total imports came in at...
Hindalco Industries Ltd raised its aluminium products price after reducing the price of the same product on Friday August 7. With effect from Saturday August 8, the company’s wire rods price came in at INR 161,350 per tonne, an increase of 1.26% or INR 2,000 per tonne from INR 159,350 per tonne. The company is now selling its billets at INR 157,350 per tonne, marking a rise of INR 2,000 per tonne from INR 155,350 per tonne with effect from Saturday August 8. Hindalco aluminium ingots price now stands at INR 150,250 per tonne, up INR 2,000 per tonne from INR 148,250 per tonne on August 7. The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The three-month futures of aluminium declined by 3% so far in 2020...
Belgium has a well-developed free market economy, based on both industrial and service sectors. It is heavily dependent on international trade and most of its economic sectors are geared toward exporting products. The nation's exports are equivalent to almost two-thirds of its GNP. The major industries in Belgium are Metallurgy, aluminium products, steel, textiles, chemicals, glass, paper, and food processing are the dominant industries. Aluminium structures have a great advantage over other structures primarily due to aluminium being the base metal for construction which is light. They are durable and less complex as compared to other conventional building structures. The Western European nation’s export of aluminium structures during 2017-19 remains strong, as the export volume depicts...
Shanghai Metals Market found China’s primary aluminium production rose by 1.83 per cent year-on-year to 3.12 million tonnes in July 2020. On a month-on-month basis, the output edged higher by 4 per cent from 3 million tonnes in June 2020. Data shows there were 41.41 million tonnes among 41.23 million tonnes per year of existing primary aluminium capacity in operation at the end of July. This increased by 12.65 per cent from 36.76 million tonnes of capacity in operation in June-end. Operating rates hiked by 0.5 percentage point to 89.5 per cent as increase in primary aluminium ingot prices encouraged newly commissioned and resumed capacities to ramp up. In the first seven months of the year, China’s primary aluminium output amounted to 21.13 million tonnes, up by 2.76 per cent from the...
Aluminium Bahrain (Alba) supports Bahrain's COVID-19 mitigation efforts, developing and fostering its community engagement initiatives. It covers support to the ‘Convalescent Plasma Donation Programme’ at the BDF Royal Medical Services (BDFRMS), led by Major General (Prof) Shaikh Khalid bin Ali Al-Khalifa, Director of the Royal Medical Services. Mr. Ali Al Baqali, CEO of Alba, and Mr. Mohd. Khalil, Director of Safety, Health and Environment at Alba, met with Brigadier Dr. Abdulla Darwish, Technical Assistant to the Director of the Royal Medical Services at the Bahrain Defence Force (BDF) Hospital, to strengthen collaboration on the coronavirus (COVID-19) response. Alba’s Chief Executive Officer Mr. Ali Al-Baqali said: “We are all in this together. It is a matter of great pride for Alba to...
A00 aluminium ingot price registered a drop after an increase of RMB 70 per tonne. The price reduced by RMB 140 per tonne to stand at RMB 14580 per tonne on Monday, 10 August 2020 and is expected to move within a range of RMB 14560-14600 per tonne. In Foshan and Wuxi, the price declined by RMB 150 per tonne and RMB 140 per tonne to stand at RMB 14480 per tonne and RMB 14590 per tonne. Their average prices are expected to range within RMB 14460-14500 per tonne and RMB 14580-14600 per tonne. Aluminium prices in Hangzhou and Chongqing came in at RMB 14590 per tonne and 14440 per tonne, down RMB 150 per tonne and RMB 135 per tonne. Aluminium ingot prices in Shenyang, Tianjin, Linyi, and Gongyi dropped to stand at RMB 14610 per tonne, RMB 14600 per tonne, RMB 14780 per tonne, and RMB 14590 per...
Three-month LME aluminium fell by 1.04 per cent to end at US$ 1,759.5 per tonne on Friday as the dollar index strengthened. Open interest added 2,430 lots to 802,000 lots as longs added positions. The contract is likely to trade between US $1,740-1,800 per tonne today. As of Friday, August 7, both LME aluminium cash (bid) price and LME official settlement price stood at US$ 1744 per tonne, up by US$ 22 per tonne from to US$ 1722 per tonne on August 6. 3-months bid price and 3-months offer price rebounded to US$ 1780 per tonne, following a downfall of US$ 21.50 per tonne to US$ 1758.50 per tonne on the previous day. Dec 21 bid price and Dec 21 offer price came in at US$ 1858.50 per tonne. The LME aluminium opening stock declined from 1632325 tonnes to 1626850 tonnes. Live Warrants hovered...
