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 government of Kentucky finally received $15 million that was invested in an abandoned aluminium plant project, which stood unfinished for five years. On Thursday, Gov. Andy Beshear announced that the money from the previous administration of Gov. Matt Bevin had been returned. The money was earmarked for Unity Aluminum, formerly Braidy Industries, which recently announced intentions to construct a roughly $1.7 billion plant in the greater Ashland region. “This announcement has been a long time coming, and I want to recognize members of this administration and Commonwealth Seed Capital, as well as Unity Aluminum, for coming together to do what is right for the community and Kentucky by returning these funds to the commonwealth. Given the current economic momentum we are experiencing...
The share price of Press Metal Aluminium Holdings Bhd is being positively affected due to the instability in aluminium prices, due to the introduction of the hedging policy. Since both are inter-connected, this situation was first observed during the initial days of the pandemic by Affin Hwang Capital. In fact, Malaysian investment bank Affin Hwang Capital has also claimed that Press Metal is enjoying the boons of its hedging policy, which has significantly protected the company from price falls withstanding the continuously decreasing price of aluminium. The systemical price increase of aluminium was at the same time when Press Metal was witnessing capacity-driven earnings growth, therefore boosting the company's share prices. Despite the drop in aluminium prices at times, Affin Hwang...
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Aluminium Stewardship Initiative has certified Novelis Aluminum (Zhenjiang) Co., Ltd. against Performance Standard V2 (2017) certification for rolling activities at Jingkou Industrial Zone, Jiangsu Province, China. That makes the plant the second Novelis facility in China to receive Performance Standard certification and 19th globally. Novelis rolling plant in Jiangsu produces premium and strong structural plate products for aerospace and commercial applications. The independent, third-party audit of Novelis’ Zhenjiang plant was carried out by DNV Business Assurance Services UK Ltd. Fiona Solomon, Chief Executive Officer at ASI, said: “We sincerely congratulate Novelis on achieving Performance Standard Certification at its Zhenjiang rolling facility. Aluminium applications for the...
The United States aluminium plates, sheets, and bars exports to Canada totalled 67,100 tonnes in the second quarter of 2022 ended June 30, up by 7.88 per cent quarter-on-quarter from 62,200 tonnes, found the US Census Bureau data. In June 2022, the United States exported 20,100 tonnes of aluminium plates, sheets, and bars to Canada, which was a downfall of 14.83 per cent month-on-month. However, the exports in May remained restrained at 23,600 tonnes versus 23,400 tonnes in April. In the entire first half of 2022, the United States’ aluminium plates, sheets, and bars exports to Canada amounted to 129,000 tonnes, reflecting a fall of 17.31 per cent from 156,000 tonnes during the same period last year. In June 2022, the United States total aluminium plates, sheets, and bars exports came in...
Kaiser Aluminium recently faced a mishap at their Sherman plant in Texas, where a probable furnace explosion had caused a fire damaging instruments at the company's disposal. Due to the unexpected event, Franklin-based Kaiser Aluminium is now preparing for a production cut in making their patent soft alloy aluminium extrusions using scrap. The local fire department very skilfully got rid of the small fire, which took shape after a mild explosion, and reports claim there were no injuries at all. The company clearly stated: "We anticipate production will be disrupted, but it is too early to determine the scope of the damage to our other equipment [aside from the furnace] and the rest of the facility." Kaiser proudly owns a huge network of other facilities and is confident that many products...
The leading vertically integrated aluminium producer in Europe, Alro, measured by production capacity, declares that Vimetco Extrusion, Alro's downstream subsidiary in charge of the extrusion business line, commissioned a new state-of-the-art automated extrusion line, following a EUR 10 million investment. With this new line, Vimetco Extrusion will be able to increase its production capacity of value-added and high-value aluminium products by about 11,000 tonnes, reaching a total capacity of over 35,000 tonnes by 2022. In addition, the new line has been developed in partnership with Presezzi Extrusion spa, which has the lowest guaranteed gas consumption on the market, thanks to its energy-saving system, which supports resource allocation efficiency and reduces business risks associated...
On Tuesday, September 27, LB Aluminium Bhd announced its financial results for the first quarter of FY2023 ended July 31, 2022, revealing a fourfold jump in its net profit (Y-o-Y) to RM12.51 million. Revenue grew 98.22 per cent to RM227 million from RM114.54 million a year ago, attributed to improvements in both aluminium and property segments. LB Aluminium also shared that its earning per share rose to 2.88 sen in Q1. On a quarter-on-quarter calculation, the group also generated higher revenue by about 5 per cent from RM216.12 million but saw lower net profit of 26.64 per cent from RM17 million. Going ahead, the company expects to continue generating a steady financial outcome amid strong global demand for aluminium. LB Aluminium said, “The group’s aluminium business is expected to be...
Hydro wishes to entirely run its Swedish operations with 100 per cent locally produced power originating from renewable energy sources other than conventional fossil fuel. The company focuses on creating a sustainable future by transforming the energy input of its three aluminium extrusion plants in Sweden situated at Sjunnen, Vetlanda and Finspång. The enterprise will aim at strategic explorations with large investments in battery storage, solar energy, wind power, energy efficiency measures and hydrogen production. In the initial stage of the project, Hydro Extrusion Sweden will mount solar panels and battery storage systems to enhance the already prevailing hydropower system. The Swedish industry is striving toward greener energy with more focus on a stable power supply at competitive...
Jangsu Rongtai Industrial Co., Ltd., a high-tech company that specializes in aluminium die casting joined Aluminium Stewardship Initiative as its new Industrial User member. Founded in June 2000, the company produces die-casting parts for engine, transmission, and steering systems in automobiles are the company's main offerings. With 1,700 workers as of the end of 2018, the firm, which has its headquarters in Yangzhou, China, also has a number of production and storage facilities, R&D facilities, and sales and service offices across Asia, America, and Europe. The company offers cutting-edge die casting, machining, and inspection equipment from Germany, Japan, Italy, the United States, and other nations. “Through continuous efforts Rongtai Industrial is aligned with environmental...
The aluminium alloy plant that Mishra Dhatu Nigam Limited (MIDHANI) was expected to co-build with NALCO’s expertise on a 110-acre land at Bodduvaripalem, quite close to Nellore city, has not yet seen any progress. Though all the persistent legal issues related to the land acquisition have been taken care of, and the defence organisation has declared an INR 2,500 – INR 3,000 crore investment, the project has not gained any noticeable pace at all. Mishra Dhatu Nigam Limited (MIDHANI) can be deemed as a central government enterprise located in Hyderabad that has been creating alloys since it was established in 1976. The company also holds a primary place in the indigenisation of critical technologies and products to assist different programmes of national importance. The Greenfield project...
Vedanta Limited reduced its aluminium ingot and aluminium products prices, with effect from Saturday, September 24, following a rise of INR 2,500 per tonne on the previous day. Vedanta’s aluminium wire rod price saw a cut of INR 3,250 per tonne on September 24 to stand at INR 210,250- 217,750 per tonne versus INR 213,500- 221,000 per tonne on September 23. Vedanta’s aluminium billet price came in at INR 211,750 per tonne as of September 24, also down by INR 3,250 per tonne from INR 215,000 per tonne on September 23. With the latest price cut, Vedanta’s aluminium ingot price ranged between INR 202,750-232,250 per tonne, compared to INR 206,000- 235,500 per tonne. Vedanta links its aluminium prices to the three-month futures of aluminium on the London Metal Exchange, which shrank on...
The Aluminium Stewardship Initiative has certified Magna PT S.p.A. against the Performance Standard Certification with a focus on Material Stewardship for the production of automotive transmissions at the Modugno plant, Italy. The activities at the plant are the production of automotive transmissions in manual, automatic and hybrid variations. It is the third subsidiary of the Magna Group to achieve ASI certification. The other subsidiaries that bagged the ASI certification earlier were Magna PT B.V. & Co. KG and Magna BDW Technologies GmbH in Germany. ASI Performance Standard certification focussing on ‘material stewardship’ address product design, life cycle assessments, management of process scrap and collection and recycling products at end-of-life. As per the report, Magna PT S.p.A....
The Wisconsin Aluminum Foundry (WAF) in Manitowoc was praised by the Department of Workforce Development (DWD) for its accomplishments with the Fast Forward Grant. Wisconsin Aluminum Foundry's worker recruiting and retention programme, supported by a Wisconsin Fast Forward grant from the Department of Workforce Development (DWD), helped the business significantly lower turnover and raise its on-time delivery rate. “With the support of the Fast Forward grant, we have meaningfully improved our employee onboarding experience. In our new training center, employees learn the skills they need in a welcoming and safe environment. Improved employee retention has had a direct impact on the success of our business and our customers,” stated WAF Chief Executive Officer (CEO) Sachin Shivaram. DWD...
Effective immediately, Ryan Millar will take over as CEO of large-format wire arc additive manufacturing company AML3D. Andy Sales will remain director of technology development as CTO. AML3D, which sells AM machines, equipment, and software and offers a bureau service, announced the appointment on the 26 th of September 2022, saying it aligned with its next growth phase. In addition, Sales will provide technical and engineering support to the sales and marketing teams and company partners as a "significant shareholder" and executive director. AML3D said, "Previously, Millar served as CEO of Environmental Earth Sciences International (EESI) with 18 years of executive leadership experience." Sales stated, “Bringing Ryan in as the new CEO also allows me to focus my strengths and efforts on...
According to China customs data, the country’s aluminium extrusion (HS code 76041010, 76041090, 76042100, 76042910, 76042990) export volume amounted to 81,800 tonnes in August 2022, registering a month-on-month fall of 11,500 tonnes or 12.4 per cent and a year-on-year drop of 3.42 per cent. Guangdong was the leading exporter of extrusion, accounting for 51.9 per cent of the total exports. Shandong contributed 17.1 per cent to the total exports, while Guangxi 6.2 per cent. The export destinations remained the same, with Philippines securing 5,116 tonnes of aluminium extrusion from China. That accounted for 6.26 per cent of China’s total exports, found customs data. Vietnam hauled 4,944 tonnes, accounting for 6.05 per cent, and Australia 3,839 tonnes, taking up 4.69 per cent. With the M-o-M...
Hydro has incorporated a third aluminium extrusion press at its manufacturing facility in Rackwitz with Euro 11 million investment that will double the plant's extrusion capacity by 12,000 tonnes annually. Elkem, Hydro, and Altor-owned firm Vianode, the maker of sustainable engineered battery materials, has declared investing NOK 2 billion to enhance its first industrial-scale unit for producing sustainable battery materials in Herøya, Norway. Turkey’s largest producer of aluminium sheet and coil, Vig Metal has completed ten years in 2022 increasing production capacity to 40,000 with new investments concerning furnaces, casting and machining lines. Aludium has resumed its Alicante plant alongside its primary rolling mill after an unprecedented fire accident in April 3, 2021 which had left...
The Sri Lankan exporter of quality aluminium extrusion products to the global market, Swisstek Aluminium Ltd, joined Aluminium Stewardship Initiative as the new Production and Transformation member. Incorporated in 2009, Swisstek Aluminium is a subsidiary of Lankatiles and Vallibel One. In addition to a broad selection of aluminium products, Swisstek Aluminum also provides specifically tailored solutions for each market segment, including industrial, architectural, and residential applications. Swisstek Aluminium creates various cutting-edge and environmentally friendly solutions to meet all needs in an effort to partner with architects, fabricators, project developers, and house owners. "Multi-dimensional initiatives taken by ASI to drive factors related with environment, social and...
Hydro adds a third aluminium extrusion press at its manufacturing facility in Rackwitz. The EUR 11 million investments will double the plant's extrusion capacity by 12,000 tonnes annually and generate 40 new jobs. The development of Hydro's aluminium recycling facility in Rackwitz, which will add 25,000 tonnes of forging stock through increased amounts of post-consumer, end-of-life scrap, was officially started two months ago. The recycling facility is the nearest neighbour to the extrusion business. “This investment allows us to expand our fabrication area and improve the service level for our customers even more with better delivery times and availability of supply. It’s a great opportunity for us, confirming our outstanding performance, the location itself and our unique culture here...
