AlCircle News Edited By "Rupankar Majumder"
A professional with a technical background, specialising in producing insightful content centred around metals, particularly aluminium, passionately engaged in the intricacies of the recycling sector.
“AlCircleBiz”: World’s first online marketplace for aluminium value chain set to launch on November 14
The wait is going to be over on November 14. AlCircleBiz is all set to launch the first global online B2B marketplace platform for the entire aluminium value chain. AlCircleBiz will connect millions of buyers and sellers across the aluminium eco-system. It’s the online e-commerce platform of the AlCircle Group that has been providing news about the industry & facilitating global trade opportunities for the past 10 years. The primary feature of the online platform is to connect buyers and sellers through enquiries against listed products and business leads. AlCircleBiz is driven by the mission to build strong supply chains through enhanced transparency and narrowing reliance on intermediaries across the aluminium supply chain and delivering desired value to our stakeholders. When sellers...
TMC adds on to Power-Pad range, made from high-grade Aluminium
The outrigger mat and lifting gear division of UK’s Crowland Cranes, TMC Lifting Supplies rolls-out the Mod Lite aluminium outrigger support mats. The drive comes following the launch of TMC’s Power-Pad HD Lite mats in July. TMC Lifting Supplies is known for supplying all types of outrigger pads. Manufactured from the same high-grade aluminium as the HD Lite pads, each Mod Lite mat weighs 35kg and is 1.25 metres long by 400mm wide. They have a depth of 100mm with a 30mm base layer of Etha foam ground protection to provide a load rating of 75 tonnes. Three Power-Pad Mod Lite units provide a 1.5 square metre contact area while four mats provide two square metres. They can also be stacked, providing greater rigidity on softer, uneven ground conditions.
Guinea Govt. delivers “Green Signal” to Lindian Resources for the acquisition of Lelouma Bauxite project
Lindian Resources, the Australian Securities Exchange-listed West African Bauxite mining company has received “green signal” from the Ministry of Mines, Govt. of Guinea towards the conclusion of the acquisition of the massive, undeveloped Lelouma bauxite project in Guinea. The Perth-based mining firm is set to assume the 75% stake in Lelouma’s underlying ownership in Sarmin Bauxite, and take over operational control of the project, pending one final condition. Lindian now seeks the approval from its shareholder, which is expected to be done in its annual general meeting this month and this is considered as the final hurdle that needs to be cleared before the mining firm secures the asset. In October’20, it reported significant development in the mineral resource estimate for Lelouma to an...
The “Corona” crisis: Aldel Aluminium smelter in Delfzijl to axe 60-70 jobs
The Dutch Aluminum smelter Aldel in Delfzijl is cutting sixty to seventy jobs due to the outcome of the corona crisis. An Adel spokesperson confirms the news, as the COVID-19 pandemic has reduced the demand of the aluminium produced by the firm. The aluminium smelter is also facing a high electricity price and high production costs. The spokesperson said that approximately 20% of employees will be affected by the reorganization. Aldel Delfzijl employees around 350 staffs and the company will discuss with the works council and trade unions in regards to the social plan. "Unfortunately, this uncertain period will take some time for our employees, certainly until the beginning of 2021," said the spokesman. In May’20, Aldel closed a large deal with multinational Glencore, a commodity trading...
Mexico’s import of Aluminium wires during 2018-20 unfolds gradual downfall
The economy of Mexico in 2020 is seen dwindling heavily as the pandemic takes its toll. Heavy losses in employment and incomes, coupled with elevated uncertainty have thumped the domestic demand. The economy should recover next year, however, as activity gradually revives. FocusEconomics panellists project the economy to contract 9.9% in 2020. In 2021, the economy is seen rebounding and growing 3.7%, which is unchanged from September’20 forecast. The country in the Southern portion of North America has been recorded with 50,211 tonnes of Aluminium wires in 2018-19 and the expenditure occurred for the import remained at $159.85 million. The import for 2020 will be expected to remain at 20,384 tonnes, the lowest in the three-year phase and the earning to stand at $78.45 million. However,...
Bosnian firm Maksimovic Komerc to infuse €1.3 million in production of Aluminium and PVC carpentry profiles in Stanari
Bosnian firm Maksimovic Komerc plans to infuse €1.3 million in the production of Aluminium and PVC carpentry profiles in leased premises in Stanari, the Stanari municipal government said. The mayor of Stanari, Dušan Panić, signed a contract with the investor "Maksimović komerc" from Doboj on a five-year lease of 5000 square metre hall in the Dragalovci Business Zone, which will employ at least 15 workers. In this hall, aluminium and PVC profiles for carpentry will be produced, and there will also be an automated plant for painting and plasticizing metal and non-metal surfaces. Deputy director of "Maksimović komerc" Maja Mišić said that the machines, which have already been procured, are expected to move in by the end of the year, while they would start working as early as next year, and...
Romanian Aluminium producer Alro Group stretches 2015 credit line by total $150 million
Romania’s Alro Group, one of the largest vertically integrated aluminium producers in Europe by production capacity has disclosed on 10 th November’20, that it is borrowing a total $150 million in extension to a $235.1 million credit facility, which was first accessed in 2015. Alro said in a statement during filling with the Bucharest Stock Exchange: “Shareholders have decided to prolong the maturity of the credit line in value up to $120 million until November 20, 2023, and the maturity of the credit line used for issuing letters of credit and guarantee letters with a value of $30 million until 29 th February 2024.” The shareholders of the company have also decided to replace banks syndicate coordinator Raiffeisen Bank with state-owned Exim Bank. Florin Cîțu, Romania’s economy ministry...
Hindalco Q2 results reflect Net profit slump by 60% YoY to INR 387 crore
On 10 th November’20, the world's largest aluminium rolling company and among the biggest producers of primary aluminium in Asia, Hindalco, posted a 60% year-on-year slump in consolidated net profit at INR 387 crore for the quarter ended September 30 after considering net loss from running and disinvestment of discontinued operations of INR 31,237 crore. Although, profit from continuing operations surged by 83% YoY to INR 1,785 crore and consolidated revenue from operations shoot up 5.32% YoY to INR 31,237 crore. EBITDA from Hindalco’s Indian aluminium business soared 32% YoY and 25% QoQ to INR 1,066 crore, whereas, margins witnessed a rise of 760 basis points YoY to 22%. Consolidated net debt to EBITDA stood at 3.52 times as on September 30 against 3.83 times in the preceding quarter...
Volkswagen Ponzam Aluminium foundry secures electric motor housings orders for wide range of models
The Volkswagen Poznań foundry is one of the largest aluminium foundries in Europe and also the third-largest in the VW concern. It is from the capital of Wielkopolska that almost all companies belonging to the German giant leave for factories around the world. This is where the transmission housings for the ID.3 electric manufactured in Zwickau are sent. It is no secret that the development direction of the Volkswagen Group is electromobility. Each of the concern's brands already offers at least one fully electric model and the revolution in the model range entails changes in the method of production. The report has come that the Poznań plant will have a significant share in the implementation of VW's strategy. Patrycja Kasprzyk, Volkswagen spokesman said: As a result of the tender...
Croatia’s import of Aluminium Plates, Sheets and Strips during 2018-20 indicates a strong market
Croatia's economic freedom score is 62.2, making it's economy the 84th freest in the 2020 Index and the major industries comprise shipbuilding, construction, petrochemicals, and food processing. However, the country’s economy is expected to shrink 8.5% this year as a result of the COVID-19 pandemic, and to grow 3.5% in 2021, the European Bank for Reconstruction and Development (EBRD). The country at the crossroads of Central and Southeast Europe on the Adriatic Sea has recorded its import of aluminium plates, sheets and strips during 2018-19 at 14,215 tonnes and the foreign revenue expended for the import stood at $39.98 million. The import for 2020 is going to stand at 8125 tonnes, the highest in three years phase and the expenditure to remain at $21.94 million. When the import volume...
Govt. of Canada and Quebec grants financial support for a start-up Aluminium food container production unit in Saguenay
Stobia, a new company located in Jonquière, is set in motion for the production of aluminium food containers. The company secured financial support totalling $ 632,795 from Quebec and Ottawa to support its start-up. The company counts among its shareholders William and Jean-Samuel Allard, two sons of Minister Andrée Laforest. The Honourable Mélanie Joly, Minister of Economic Development and Official Languages for Canada, and Pierre Fitzgibbon, Minister of Economy and Innovation for Quebec, announced on 9 th November’20. The project, worth over $ 1.6 million, will create a dozen jobs over the next two years. Stobia plans to manufacture more than 100 million aluminium containers per year. The Honourable Minister Mélanie Joly said: “Helping businesses to start-up, grow and innovate so they...
British firm Ellis Patents obtains new power supply projects in Peru
Ellis Patents, the world leader in cable cleat manufacturing has seen its products used to secure power supplies in the Peruvian capital of Lima by two of the Latin American country’s biggest energy suppliers. Ellis Patents delivered 2A Aluminium cable clamps to secure high voltage power cables in vital new substations in the Manchay and Izaquirre areas of Lima for Luz del Sur and ENEL Distribución. Ellis’ 2A Aluminium cable clamps manufactured from LM6 Aluminium are available in sizes ranging from 38mm to 168mm and are primarily used in transmission and distribution projects in unpolluted environments. They can also be supplied with an epoxy coating for use in harsher environments, and LSF polymeric liners for additional cable protection. Both Luz del Sur and ENEL Distribución specified...
Gränges assigns new management for Europe operations
Granges Aluminium assigned new management for its operations in Europe, following the completion of the acquisition of Aluminium Konin. Gränges’ operations in Europe incorporate of the acquired business Aluminium Konin in Poland, the operations in Finspång in Sweden, and the business unit Gränges Powder Metallurgy. The name of the acquired business in Poland will be modified to Gränges Konin S.A., while the name of the Swedish unit will be traded from Gränges Sweden AB to Gränges Finspång AB. Torbjörn Sternsjö, currently SVP Technology & Business Development at Gränges Group, has been appointed President Europe, with responsibility for Gränges’ operations in Europe. Torbjörn has extensive experience of driving development and change in leading positions in international operations, among...
Kenya’s import of Aluminium foil during 2018-20 displays nosedive; expenditures remain high
Kenya is one of the fastest-growing economies in Africa, yet, nearly half of its residents live below the poverty line. Agriculture is the main engine of economic growth in Kenya. About 75% of Kenyans earn all or part of their income from the sector. Agriculture accounts for 33% of the nation's gross domestic product (GDP). The East African nation’s import of aluminium foil during 2018-19 stood at 7702 tonnes and the expenditure towards the import remained at $39.92 million. The import for 2020 is predicted to reach at 2131 tonnes and expenditure to stand at $35.72 million. However, when the import volume and expenditure for 2020 gets assorted with the existing two years it signifies 9833 tonnes and $75.64 million respectively. Kenya’s import of aluminium foil in 2018 has been recorded at...
Lindian Resources’ CEO Danny Keating quits within three months of joining
Danny Keating, the Chief Executive Officer of Lindian Resources quits just within three months of his appointment as the leader of the company. On 9 th November’20, the company announced it had mutually terminated CEO Danny Keating's contract with immediate effect. Lindian Resources said: "The hard border closures and other travel restrictions imposed due to the COVID-19 pandemic have prevented Mr Keating, who resides in the United Kingdom, from travelling to the company’s head office in Australia and interacting with company shareholders and staff." "The company thanks Mr Keating for his contribution during his time as CEO and wishes him well in his future endeavours," it stated. In August’20, Danny Keating joined Lindian Resources carrying over 25 years’ of experience in the mining...
Jamaica’s export of Alumina during 2018-19 unveils growth; 11.64% dip projected for 2020
The Jamaican economy is hugely dependent on services, which accounts for more than 70% of GDP. The country derives most of its foreign exchange from tourism, remittances, and bauxite/alumina. The FocusEconomics panellists see the economy contracting 6.4% in 2020, before growing 3.3% in 2021, which is up 0.2% points from last month's projection. The Bauxite rich Caribbean nation’s export of alumina during 2018-19 stood at 42,95,384 tonnes and revenue earnings accounted towards the export remained to $1.194 billion. The export for 2020 is expected to reach at 19,45,386 tonnes and earnings to stand at $566.60 million. Now, when the export volume and earnings for 2020 gets assorted with the existing two years, it unveils 62,40,770 tonnes and $1.761 billion respectively. Jamaica’s export of...
Gränges concludes the acquisition of Aluminium Konin; Funds raised by Boryszew to pay off liabilities and development investments
On 6 th November’20, Gränges has completed the previously announced acquisition of the Polish flat-rolled aluminium producer Aluminium Konin. The acquisition of Aluminium Konin, communicated on 28 th November’19, will strengthen Gränges’ product offering and presence in Europe and contribute with strong positions in new attractive niche markets. The acquisition adds new capabilities and capacity to, among other things, expand Gränges’ offering for future transportation solutions, such as electric vehicles. The acquisition is a good strategic fit for Gränges and enhances the company’s platform for sustainable profitable growth. On 23 rd September’20, the acquisition was approved by the EU Commission and on 7 th October’20 Gränges and Boryszew S.A., the seller of Aluminium Konin, signed an...
Austal Vietnam delivers its first all-aluminium high-speed catamaran to Trinidad and Tobago’s NIDCO
On 6 th November’20, Shipbuilding group Austal announced that its Vietnam yard which began its operation in 2018 has delivered its first and foremost vessel fully constructed at the Vung Tau shipyard. APT James, the 94m all-aluminium high-speed catamaran was delivered to National Infrastructure Development Company (NIDCO) of Trinidad and Tobago by Austal Vietnam unit. The vehicle-passenger ferry, called Auto Express 94, was designed at Austal Australia. It features the company’s signature optimised hull design, raked bow. A.P.T James is named after the Tobago-born politician, best known as an advocate for political, social and economic development in Tobago before and during his service on the Legislative Council of Trinidad and Tobago from 1946 to 1961. The aluminium makes catamaran will...
