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.
Alumil India to extend reach in South, West, and North markets
Alumil India, the wholly-owned Indian subsidiary of Alumil Group, a renowned company in designing and producing premium architectural aluminium systems, has unveiled its strategic expansion plans focused on key regions in Southern, Western, and Northern India. Recently, the company inaugurated a partner showroom in Noida as part of this initiative. It aims to establish stores in Chandigarh and Jaipur in the North and Coimbatore and Chennai in the South. Additionally, Alumil India is gearing up to enhance its presence in Nagpur, Pune, and Surat by March 2024. Since its inception in 2015, Alumil India has successfully executed over 50 projects and is now geared towards fortifying its geographical reach across the nation. Theodoros Axouristos, the Managing Director of Alumil India, said,...
Ball Corporation's aerospace business sale to BAE Systems approved
Ball Corporation has received approval to finalize the sale of its aerospace business to BAE Systems for $5.6 billion. Initially announced in August 2023, the agreement was expected to conclude in the first half of 2024. However, this week, Ball reported that the U.S. Department of Justice concluded its review under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, allowing the review period to expire. Alongside previous regulatory approvals from entities such as the Defence Counterintelligence and Security Agency and the Committee on Foreign Investments in the United States, both parties anticipate completing the transaction shortly. Morgan Stanley & Co. LLC acted as Ball Corporation’s financial advisor. At the same time, legal and regulatory counsel was provided by Skadden,...
Can coatings market set to surge on the back of growing food and beverage sector
The global market for can coatings is projected to experience a steady growth rate of 5 per cent CAGR from 2023 to 2035, with anticipated revenue reaching $4 billion by the end of 2035, compared to $3 billion in 2022. This growth is primarily attributed to the expanding food and beverages industry, where can coatings play a crucial role in preserving both the interior and exterior surfaces of cans, ensuring the long-term freshness of food and beverages. The increasing consumption of packaged beverages worldwide further contributes to this trend. For instance, in 2021, the global consumption of packed water surpassed 472.1 billion litres, making it the most consumed packed beverage globally. Similarly, packaged alcoholic beverages accounted for approximately 261 billion litres, while dairy...
Middle East aluminium giant's subsidiary to construct alumina refinery in Guinea
The bauxite mining subsidiary of Emirates Global Aluminium, Guinea Alumina Corporation (GAC), intends to set up an alumina refinery in Guinea with an annual capacity of 1 million tonnes. EGA is the world's largest 'premium aluminium' producer. GAC is jointly owned by Mubadala Development Company and the Investment Corporation of Dubai (ICD), with equal ownership stakes. Youssuff Sylla, the Director General of GAC, speaking at the Round Table of Donors (RTD) organised by the government of Guinea in Dubai, said, "Full details about the project and timelines will be announced in due course." During the media Round Table, the Minister of Planning and International Cooperation, Guinea, Rose Pola Pricemou, stated, "The RTD is about securing essential funding and establishing long-term strategic...
Aluminium Deutschland remains cautiously optimistic amidst high energy prices and labour shortages
Against the backdrop of soaring energy costs, shortages in skilled labour, and other challenges, Aluminium Deutschland cautiously expresses optimism regarding the industry's trajectory in 2024. Deliveries of tubes and aerosol cans to Germany saw respective increases of 4 per cent and 0.5 per cent between 2022 and 2023, indicating positive momentum. In 2023 Germany received 796 million aluminium tubes and 575 million aluminium aerosol cans. Clemens Behrenbruch, the Chairman of the Tubes, Cans, and Extruded Parts Division at Aluminium Deutschland, said, “The strong demand for aluminium tubes, particularly from the pharmaceutical sector, underscores the crucial role of our products in meeting essential packaging requirements. The industry’s performance in 2023 reflects our resilience and...
Years of delay over: Inalum targets H2 2024 for alumina refinery operations commencement
Indonesia's state-owned aluminium producer, Inalum, announced on February 15 2024, its intention to commence operations at its long-awaited new smelter-grade alumina refinery in the latter part of 2024. Their official release states that this marks the culmination of years of delays. In June 2023, the Indonesian government imposed a ban on bauxite ore exports in a bid to encourage the development of a domestic bauxite processing and refining industry aiming to emulate its achievement in enticing foreign investors into nickel processing following a similar prohibition on outbound shipments of unprocessed ore in 2020. In 2023, Indonesia’s primary aluminium sector is expected to demonstrate moderate growth compared to the previous year, as various reports indicate. The global aluminium...
AMAG Austria Metall AG defies economic downturn with record-breaking business performance in 2023
The biggest company in the Austrian aluminium industry sector, AMAG Austria Metall AG demonstrated remarkable business performance in 2023, despite a challenging economic climate. The company achieved a revenue of EUR 1,459.2 million, accompanied by an impressive EBITDA of EUR 188.4 million, marking the second-highest level in its history. Net income after taxes stood at a solid EUR 66.4 million, while cash flow from operating activities experienced a substantial surge, soaring by 110% to EUR 180.9 million. The key factors for AMAG's performance AMAG's diverse portfolio proved instrumental in navigating economic hardships and attaining exceptional outcomes. The firm's emphasis on innovation, sustainability, and premium aluminium offerings struck a chord with both customers and...
Greek shipping giant expands fleet with more Capesize vessels
Danaos, a Greek-owned company led by John Coustas and renowned for its container ship fleet, has extended its presence in the dry bulk sector by acquiring additional Capesize vessels. The company, which already operates seven such vessels, has purchased two more, built-in 2010 and 2011, for a total of $52.8 million. These vessels, known as Xin Hang from Jiangsu Steamship and Guo May from Foremost, are scheduled for delivery in April and July 2024, respectively. Danaos Corporation stands out as a prominent entity in large-size containership ownership, operating independently. Its primary business model involves leasing these vessels to major liner companies under secure, long-term agreements at predetermined rates. Distinguished by its cutting-edge shipping technology and an extensive...
Swiss multinational plant equipment manufacturer's profitability reached new heights in 2023
In 2023, Bühler sailed through a challenging and unpredictable global environment, achieving heightened profitability and enhancing its equity ratio. Leveraging its status as an innovative solution provider, the company capitalised on numerous opportunities, securing a larger market share amid shifts in its primary sectors. Revenue surged significantly in local currencies, while order volume slightly increased. Bolstered by a substantial order backlog totalling CHF 2.0 billion, Bühler stands strongly positioned for the year ahead in 2024. Stefan Scheiber, the CEO of Bühler, stated, "We are satisfied with the outcome of 2023 and have proved again that we are a reliable partner in this dynamic world." In 2023, Bühler demonstrated robust performance at the group level, achieving a slight...
UK Board of aluminium construction systems giant welcomes Paul Booth and James Schools
AluK has recently added two notable members to its UK Board, with Paul Booth, a respected figure in the industry, assuming the role of R&D Director and James Schools, a seasoned manufacturing specialist, stepping in as Finance Director. Their appointments signify a significant boost for AluK, as they bring a wealth of experience and expertise that will be instrumental in driving the company's ambitious initiatives for 2024 and beyond in the realm of aluminium systems. Let us know about Aluk AluK is a global leader in aluminium construction systems. It is known for its engineering, distribution and design of aluminium windows, doors, and facade solutions. Founded over 70 years ago, AluK has become a significant player in the aluminium construction systems sector and currently runs...
Nalco's Q3 results: Net profit spikes significantly, propelling growth
On February 13, 2024, National Aluminium Company Ltd announced a nearly twofold increase in consolidated profit, reaching INR 470.61 crore for the December 31, 2023 quarter. Nalco's filing to BSE marks a substantial rise of around 83.6 per cent (Y-o-Y) compared to the consolidated profit of INR 256.32 crore reported in the October-December quarter of FY2022-23. In the same quarter last year, Nalco disclosed a net profit of INR 256.3 crore, as per a regulatory filing. The company reported a 1.5 per cent increase in revenue from operations, reaching INR 3,346.9 crore compared to INR 3,297.2 crore in the corresponding period of the previous fiscal year. At the operational level, EBITDA surged by 66 per cent to INR 773.1 crore in the third quarter of the current fiscal year, compared to INR...
Russian aluminium retains 90% presence in LME-approved warehouses
According to data from the London Metal Exchange (LME) released on February 12, 2024, the proportion of aluminium stocks originating from Russia in warehouses approved by the LME remained consistent at 90 per cent throughout January. Despite some restrictions, the London Metal Exchange (LME) recently reported that Russian metal is still being transported through LME-registered warehouses. In January 2024, the quantity of Russian primary aluminium stocks on the LME warrant decreased to 286,750 tonnes, down from 338,375 in December, according to data.
Secure high-stress joints with SPIROL's lightweight aluminium compression limiters
Introducing the latest innovation from SPIROL, the Series CL6000 lightweight Compression Limiters, crafted from lead-free aluminium with precision machining. Compression Limiters play a crucial role in fortifying high-stress joints within plastic assemblies, mainly where bolts are employed to connect components. These limiters safeguard plastic components from excessive compression, effectively absorbing the load during bolt tightening to the specified torque, thus ensuring the joint's longevity and reliability over the product's lifespan. The CL6000 series is meticulously machined from 2024-grade aluminium and is renowned for its optimal blend of strength, corrosion resistance, machinability, and cost-effectiveness. Compared to brass counterparts, these aluminium Compression Limiters...
Acciona Energía ventures into the Indian solar market with a new project
Acciona Energía has announced plans to construct a new 412 MWp photovoltaic project in Rajasthan, India, with an expected completion date set for 2025. Acciona, S.A. is a Spanish multinational conglomerate dedicated to developing and managing infrastructure and renewable energy. Acciona is a global group that develops and manages sustainable infrastructure solutions, especially in renewable energy. Its business spans the entire value chain, from design and construction to operation and maintenance. The solar farm will comprise approximately 750,000 photovoltaic modules, each boasting a capacity of 545Wp. Anticipated to generate around 800 GWh of green electricity annually, it will be capable of powering approximately 840,000 households while preventing the emission of 724,000 tonnes of CO...
Researchers convert glass windows into energy-storing appliance
A team of researchers from the Centre for Nano and Soft Matter Sciences (CeNS) in Bengaluru has created a groundbreaking battery capable of converting ordinary glass windows into cost-effective energy storage units. This innovative development involves the design of an efficient and affordable aqueous transparent battery featuring colour modulation functionality, ideal for integration into smart windows. Let us know about CeNS The Centre for Nano and Soft Matter Sciences (CeNS) is an autonomous research institute under the Department of Science and Technology (DST), Government of India. DST provides core support to the Centre through a grant-in-aid for conducting basic and applied research in nano and soft matter sciences. The Centre is engaged in materials research at all relevant length...
JSW Group announces multi-billion-dollar investment in EV infrastructure
Indian multinational conglomerate JSW Group is poised to establish electric vehicle and battery manufacturing initiatives in Odisha, an eastern state, with an investment totalling around INR 400 billion (approx. $4.82 billion). The JSW Group The JSW Group, valued at US$ 23 billion, stands as one of India's foremost business conglomerates. Through its dynamic and sustainable ventures across industries such as steel, energy, infrastructure, cement, paints, venture capital, and sports, JSW Group is significantly contributing to India's economic advancement. JSW and Odisha State Govt. signed MoU On February 11, 2024, the company and the state government officially and jointly announced that they had inked a memorandum of understanding (MoU) to set up an Integrated Electric Vehicles (EV) and...
Global financial house unveils long-term forecast on aluminium prices
The global aluminium market persists in navigating a convoluted landscape of factors, prolonging its journey towards a deficit more than anticipated. The industry has been ensnared in a precarious equilibrium over the previous year as the Chinese market tightens. In contrast, the primary market outside China experiences a softening, maintaining London Metal Exchange (LME) pricing slightly above the $2,000 per tonne threshold. 2024 to see modest tightening The American multinational investment bank and financial services company Goldman Sachs' analysts now forecast a slight tightening in the balance for 2024 , with an estimated deficit of 724,000 tonnes. This marks a notable revision from the earlier projection of a 1.2 million tonne deficit. A more significant deficit is anticipated in...
Italian industrial production rebounds in December, alleviating concerns
In December, Italian industrial production saw a predictable recovery, with a detailed analysis suggesting that energy-intensive sectors might be on the verge of a turnaround. However, disruptions in the Suez Canal and subdued demand are currently constraining the potential for a significant increase in production during the first quarter. Following a downwardly revised 1.3 per cent contraction in November 2023, Italian seasonally adjusted industrial production saw a rebound of 1.1 per cent month-on-month in December 2023, slightly surpassing anticipated figures. Throughout 2023, the average production experienced a 2.5 per cent decline compared to the previous year. As reported by ING Think economic and financial analysis in December 2024, every major industry category, except for...
