50 billion in revenue and 20 billion in profit is what Vedanta Group is looking forward to over the next two years, said the Founder & Chairman, Mr Anil Agarwal, during an interactive session organised by the Indian Chamber of Commerce (ICC) at Taj Bengal, Kolkata on October 28, 2026. While he sees India as a powerhouse of metals and minerals, his attention is caught by West Bengal, located in the Eastern part of India. Mr Agarwal believes the future of Bengal looks bright, as the state has a strategic geographical location with major mining states like Jharkhand and Odisha as its neighbours. By directing high hopes for Bengal and praising the double engine government, Agarwal expressed his willingness to invest in the state in sectors like mining, minerals and power. He also met the...
Hydro has begun construction of a new 5,900 metric ton indirect aluminum extrusion press line at its Cressona facility in Pennsylvania, backed by a $53.5 million investment aimed at modernizing production, expanding specialist extrusion capacity, and strengthening the company’s North American manufacturing operations. The groundbreaking took place on October 27, with operations expected to commence in the first quarter of 2028. The new press will replace equipment dating from the 1950s and introduce Industry 4.0 technology, advanced automation, improved energy efficiency, and enhanced safety performance. New press targets growing demand for specialist extrusions The investment comes as demand for indirect aluminum extrusions continues to grow across commercial transportation, automotive,...
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The market leader in manufacturing automotive components with more than three decades of operational experience, Lumax Auto Technologies received a nod from its board for INR 400 crore fundraising. The company's profit escalated by 431% Y-o-Y to INR 26 crore for the quarter that ended June FY23 on a low base, but there was a significant increase in input cost. However, revenue grew by 62% Y-o-Y to INR 421.93 crore during the same quarter. The company stated that the board of directors had approved raising funds to INR 400 crore by issuance of securities. The market participants are placing bets on some beneficiaries at a time when metal prices have started to decline. Some industry experts believe that the auto ancillaries, engineering, capital goods, and infrastructure sectors, among...
Dedicated to maximising the contribution of aluminium to a sustainable society, Aluminium Stewardship Initiative (ASI) is an international multi-stakeholder and non-profit organisation which aims to promote sustainability along the whole value chain for aluminium. They have established specific criteria to audit and verify the transparency and sustainability of aluminium across all phases of its production and transformation. And in 2022, the downstream sector of the global aluminium industry witnessed a lot of ASI certifications and membership, pointing towards the fact that sustainability is eventually becoming the need of the hour. In addition to demonstrating accountability, ASI certifications can boost stakeholder and customer trust in aluminium goods by proving our performance to a...
On Tuesday, December 6, LB Aluminium Bhd, one of the largest aluminium extrusion manufacturers in Asia, declared an 81 per cent hike in its net profit for the 2nd quarter of FY23 ended October 31 from RM6.83 million in the previous year to RM12.35 million, thanks to higher average selling prices and improved margins for its aluminium product segment. Quarterly revenue increased by 30 per cent to RM206.09 million for the said period versus RM158.84 million in 2QFY22. In the first six months of the fiscal year 2023, net profit jumped by more than two-fold over the year from RM9.87 million to RM24.86 million. Revenue escalated by 58 per cent from RM273.39 million to RM433.15 million. The group claimed stable global aluminium prices and stronger ringgit value than the US dollar were the two...
Hydro has signed an agreement with the Germany-based family-run building systems and extrusions enterprise, Hueck, with an investment plan of almost ₹60.3 million. This ownership might elevate Hydro's position in the German and European aluminium extrusion market while promoting their combined expertise in the genre. The investment will have a proportional division allotted for each operational necessity, from net debt management to usual working capital. The Executive Vice President of Hydro Extrusions, Paul Warton, pointed out: "Hueck is well positioned in Germany to serve the European building systems and extrusions market and will fit well into Hydro Extrusions. The acquisition will strengthen our ability to provide a quality service offering to European customers with an even broader...
The Bulgarian aluminium extruder, Aluplast-ZTG, an Altest company, recently procured a second Nitrex nitriding system. This results from the extruder gaining a big manufacturing boost after installing new extrusion presses to meet customer demand for its extrusion profiles used in residential and commercial construction. Since 2011, the first nitriding furnace, a compact N-EXT-412, has been operating. The new second furnace, a model N-EXT-612, is the same as the first one but more significant, capable of processing a load of extrusion dies weighing up to 1300 lb. (600 kg). Aluplast's decision to purchase the N-EXT-612 was influenced by an excellent relationship, trust in Nitrex's technology, and short delivery delay. Atanas Novakov, the Manager at Aluminium Production Plant, said, “We...
On December 8, 2022, the industry leader in non-ferrous metal trading and manufacturing, Metal Exchange Corporation, announced the name of Matt Rohm, the present President and Chief Operating Officer (COO), will be promoted to Chief Executive Officer (CEO) of Metal Exchange Corporation effective January 1, 2023. While at that time, Rick Merluzzi, the current CEO, will assume the title of Executive Vice Chairman, serving as an advisor to Executive Chairman Mike Lefton, on key strategic initiatives for the organization, through the end of 2023. Matt Rohm will be accountable for the business's overall performance in his new position, with strategic oversight of all operating companies, divisions, and the entire Metal Exchange portfolio. The Chairman, Mike Lefton, said, "We are excited to...
Metal 3D printing, more formally known as Metal Additive Manufacturing, can produce seamless designs by applying a diverse set of raw materials. The most commonly used element among them is aluminium. Detailed components and intricate designs, which were not even imaginable in the era gone by, are now being generated in an instant by high-end Additive Manufacturing devices. Just a few years back, the process was only used for producing technological prototypes, but now it is being hailed as one of the most compact yet swift methods to acquire the specific configurations of an object. Industries, including automobile, aerospace and pharmaceutical, are all embracing this revolutionary technology as it is much more cost-effective and hassle-free. Additive Manufacturing (AM) follows a method...
The increasing demand and use of aluminium across the globe in various industries like construction, packaging, and transportation shows that the incorporation of this silvery-white is widespread and evolving daily. The downstream segment also witnessed significant investments and enthusiastic purchases worldwide this year. New investments or projects not only open the doors towards improved business opportunities but also creates a scope for employment and an enhanced working environment. The downstream aluminium sector throughout 2022 has witnessed a limited but significant number of investments. Some of the top investments under the aluminium downstream segment in 2022 are: Jindal Aluminium: One of the largest aluminium extrusion companies in India, acquired an acquisition of INR 100...
Spanish automotive components supplier, Gestamp has purchased one-third of Gescrap, a scrap recovery and recycling enterprise. It explained that the reduction of mineral extraction from iron and aluminium would bring a definitive impact by discarding carbon emissions from the entire supply chain. Gestamp claims that this initiative would capacitate the company to run a proper circular economy and optimise them to make full use of recycled materials for its manufactured products. Gestamp has mastered the art of developing metal body or chassis parts, recycling and using 98 per cent of the waste yielded from its overall activities. The Spanish tier-one company proudly presides over 100 production facilities spread all across the globe. Gestamp has declared that this agreement with Gescrap...
In an effort to reduce carbon emissions and global overcapacity, both United States and the European Union (EU) are considering imposing fresh tariffs on Chinese aluminium and steel. The move will be a novel approach as both nations will use tariffs to fight carbon emissions and global overcapacity. According to the sources, the proposaloriginated within President Joe Biden's administration andll inandinfancy and wasn't publicly offered. An agreement with the EU, including specifics on determining thresholds for implementing tariffs, is unlikely until next year. As per the reports, the new framework is primarily directed at China, the world's largest carbon emitter and manufacturer of aluminium and steel, as well as other major polluting nations, and builds on a previous US-EU pact from...
Cevher Jant A.Ş., a high-quality aluminium alloy wheel producer in Turkey, achieved ASI Performance Standard V2 (2017) Certification with an emphasis on Material Stewardship for its car wheel manufacturing facility in Izmir, Turkey. As a co-design partner with car OEMs, Cehever contributes its capability to design, develop, produce, and validate the manufactured wheels. The Cevher firm can manufacture two million aluminium alloy wheel production per year. "ASI congratulates CEVHER on achieving Performance Standard Certification with Material Stewardship focus at its two Izmir, Turkey production facilities. Increasing aluminium use in the auto industry is often perceived as being for lightweighting in the body structure and panels. However, aluminium wheels also lighten overall vehicle...
Introduction From the dawn of the twenty-first century, work has become more interesting across various sectors and industries. In most cases, the contribution towards the excitement and exuberance came from technology. For example, at the beginning of the century, digitization took the next leap towards digitalization, and ERP (Enterprise Resource Planning) software came to the forefront. Companies like SAP, Oracle and Microsoft enjoyed huge success thanks to the high adoption rates of their respective ERP solutions. From recruitment to retirement, from receiving the order to realizing the payment, from procurement to making payment to an invoice, transparent reporting – the reason for the wide adoption of ERP had been the aim to achieve more and more efficiency and less human error....
PSI Metals has joined hands with PSI FLS Fuzzy Logik & Neuro Systeme to introduce the Qualicision-based PSImetals Casthouse Scheduler at European aluminium manufacturer, Alu-met's place. This will further enhance the aluminium extrusion production planning process. Alu-met GmbH is a European conglomeration of companies producing and supplying precisely engineered aluminium extrusion bolts. Expert advice is provided by Germany's Aluminium GmbH Nachrodt and the Austrian Speedline Aluminium-Gießerei GmbH. Both plants produce 150,000 tonnes of aluminium extrusion billets each year, serving the entire Central European market. The units are constantly under supervision to see if there is any requirement for an increased production rate, keeping electricity use under control. They have been...
Andover-based MRT Castings have been hailed as the Company of the Year at Industry awards for its exceptional business strategies that tripled the size of its operations during the long nights of Covid-19. MRT Castings not only did increase its activities but successfully supplied cast aluminium components for the creation of critical care ventilators, which had extreme demand at the time of the pandemic. The firm also impressed the judges on humanitarian grounds, which led to the win. MRT had to surpass many eligible contenders. The company was also recognised as the 'best of British casting' at the current UK Cast Metal Industry Awards 2022, which had a guest toll of about 200 heads. Company officials invested over £3.5m in acquiring seven auxiliary CNC machines and two additional...
Vedanta Limited trimmed its aluminium products and aluminium ingot price by INR 1,500 per tonne on Saturday, December 3. That brought the company’s aluminium wire rod price to INR 235,250-242,750 per tonne versus INR 236,750-244,250 per tonne on December 2. With the latest cut, Vedanta’s aluminium billet price came in at INR 236,750 per tonne compared to INR 238,250 per tonne on December 2. Vedanta’s aluminium ingot price hovered around INR 227,750-258,750 per tonne as of December 3 as against INR 229,250-260,250 per tonne on December 2. Vedanta curtailed its aluminium products and aluminium ingot prices on December 3 despite the rally of the three-month futures of aluminium on the London Metal Exchange by US$18 per tonne on December 2 from US$2,430.50 per tonne to US$2,448.50 per tonne....
On November 29, 2022, the German equipment provider to the metal industry, SMS Group, headquartered in Dusseldorf, announced its cooperation with South Korea’s LOTTE Group. With 150 years of experience, SMS Group is recognized as a future-oriented technology and outstanding service in plant construction and mechanical engineering for the metals industry. In August of this year, LOTTE announced that its subsidiaries LOTTE Chemical and LOTTE Aluminium had joined forces to create a manufacturing facility in Elizabethtown, Kentucky, to produce 36,000 tonnes of cathode foil annually. According to a statement by Kentucky state governor Andy Beshear, this substance is a form of ultra-thin aluminium foil that is a core material utilized in EV batteries. South Korea’s leading conglomerate, LOTTE...
Equispheres Inc. supports the contented brains that created all inventions that revolutionised the additive manufacturing sector. Recently, it collaborated with Morf3D to identify fresh, high-performance aluminium powders that boost the efficiency and performance of the metal additive manufacturing (AM) industry. At the Make in Odisha 2022 Conclave on Thursday, December 1, according to reports, Odisha Chief Minister Naveen Patnaik officially broke ground for Vedanta's massive aluminium park by pressing a ceremonial button in front of the company's chairman Anil Agarwal. The aerospace-grade 7050 and 7075, as well as the premium aluminium alloys 2024 and 6061, will be developed by SLM Solutions and Elementum 3D by 2023. SLM announced its most recent acquisition of the NXG XII 600E, coupled...
A sectoral session on the metal, downstream, and auxiliary industries was held on the Make in Odisha Conclave's second day. More than ten top industry leaders addressed a sizable crowd of business titans, policymakers, investors, and many more. The Minister of Industries, Energy and MSME, Pratap Kesari Dev, addressed the session, which invited investors to invest in downstream units in Odisha. Hemant Sharma, the Principal Secretary of Industry, explained why investors should invest in downstream industries in Odisha. Sharma highlighted the government's emphasis on parks, clusters, and hubs. He referred to Vedanta Aluminium Park and Angul Aluminium Park and urged MSMEs to take advantage of the opportunity. Dr Tapan Kumar Chand, the Resident Director of Vedanta and the Former Chairman cum...
