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THINK ALUMINIUM THINK AL CIRCLE
The downstream segment of the global aluminium sector is still witnessing acquisitions and expansions, which started eventfully from the later part of the previous year. This happening ensures that the global manufacturing industry is countering and gradually recovering the dent created by the Covid pandemic. The financially distressed nation Zimbabwe was in the news due to the announcement of aluminium profiles producer and distributor Almin Metal Industries further expansion. While in the United States, Matalco Inc. acquired high-quality 6000-series aluminium billet manufacturer Ohio Valley Aluminum Co. LLC.
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The leading aluminium smelting and rolling mill in the world, Aluminium Norf GmbH (Alunorf) will purchase electricity from five wind parks in the state of North-Rhine Westphalia to diminish its carbon footprint. The German aluminium producer, Alunorf’s inked power purchase agreement (PPA) with French energy company Engie SA undertakes that Alunorf will off-take about 28 million kWh of green electricity in 2022 which is enough to power four induction furnaces.
The Sri Lankan exporter of quality aluminium extrusion products to the global market, Swisstek Aluminium Ltd has received the certification as a “Great Place to Work” by the independent analysts at Great Place to Work in Sri Lanka. The USA headquartered Great Place to Work® is the global authority on building, sustaining and recognizing High-Trust, High-Performance CultureTM at workplaces.
To know more: https://www.alcircle.com/news/swisstek-aluminium-earned-the-credential-as-a-great-place-to-work-in-sri-lanka-75495
Hindalco Industries Limited hiked its aluminium products and aluminium ingot prices for the second time in a row last week, with effect from Friday, January 28. The company’s aluminium wire rod price saw a surge of INR 5,250 per tonne or 1.92 per cent to INR 279,100 per tonne as of January 28. On January 26, the price stood at INR 273,850 per tonne, up by INR 2,000 per tonne from the previous day.
To know more: https://www.alcircle.com/news/hindalcos-aluminium-wire-rod-price-surges-by-inr5250-t-with-effect-from-january-28-75505
A team of Chinese business investors are in Nigeria to build a world-class aluminium profiles facility in Lagos to support the restriction towards the high rate of fake aluminium products. As per our report, the promoters of the new firm following the establishment of the aluminium factory will deliver jobs to around 100 young local Nigerians for a good career beginning.
The Turkish organization, ETi Alüminyum, which is counted as one of the few integrated facilities in the world that can produce from the mine to the final products with a wide range of uses, from window profiles to aeroplanes is expanding its solar park with two projects that are contemplated to lift the capacity to 163 MW, to produce clean and green aluminium, while progressing on its path to net-zero emissions.
The Harare, headquartered Zimbabwean manufacturing company, Almin Metal Industries Limited is all set to open three new branches in March 2022 as part of its drive for business expansion. In 1969, Almin Metal Industries was founded, while the company is in the business of manufacturing and supply of aluminium profiles for architecture, irrigation and general engineering purposes. However, the new branches will be in Gweru, Kwekwe and Mutare.
To know more: https://www.alcircle.com/news/almin-metal-industries-in-zimbabwe-all-set-for-further-expansion-75515
Matalco Inc., a division of Toronto-based Giampaolo Group Inc., has reportedly acquired the Ohio Valley Aluminum Co. LLC (OVACO), based in Shelbyville, Kentucky. The news came after KPMG Corporate Finance LLC, which served as the financial advisor of the OVACO, reported it officially. Founded in 1955, the OVACO is a manufacturer of high-quality 6000-series aluminium billet made from aluminium scrap for the aluminium extrusion industry.
On Tuesday, February 1, Hydro completed the sale of its aluminium extrusion plant in Kuppam, India, to Hindalco Industries Limited, as was expected in the first quarter of 2022. On December 17, Hydro had signed a Business Transfer Agreement to sell its extrusion operations in Kuppam to Hindalco for US$33 million or INR 247 crore. The transaction was structured as an asset sale and included Kuppam plant with approx. 245 direct employees and 224 contract employees.
To know more: https://www.alcircle.com/news/hydro-completes-sale-of-kuppam-aluminium-extrusion-plant-to-hindalco-industries-ltd-75541
According to a recent report, Stefan Glimm will retire from his remaining responsibility as Director-General of the Global Aluminium Foil Roller Initiative (GLAFRI) at the end of February 2022. He served the aluminium foil industry for 30 years and the aluminium industry in general for almost four decades. During his career, Mr Glimm worked in leading management positions for what today is Aluminium Deutschland, AMS Europe incl. European Aluminium Foil Association (EAFA), and Flexible Packaging Europe, European Aluminium. In his early days, he also worked for Wirtschaftsvereinigung Metalle (German Non-Ferrous Metals Association).
On 2nd February 2022, the Indonesian Ambassador to Sri Lanka, Dewi Gustina Tobing met the Prime Minister of Sri Lanka, Mahinda Rajapaksa in Colombo towards promotion and the marketing of Indonesian produced aluminium and electric motorcycles. The ambassador promoted the aluminium manufactured in Indonesia, which is one of the potential sectors of the nation. In 2021, Sri Lanka's aluminium imports have reached around $427 million.
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