Five years after taking control of Metra, KPS Capital Partners is preparing to hand over the aluminium extrusion company to Poland’s Grupa Kęty in a deal valued at EUR 645 million (USD745 million). The transaction, which is expected to close in the first quarter of 2027 pending customary approvals,...
Kibar Americas has begun production at the former Novelis aluminium plant in Fairmont, marking the facility’s return to operation more than a year after its sudden closure resulted in the loss of more than 180 jobs. The reopening was marked by a ribbon-cutting ceremony attended by local leaders and...
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The economy of Ivory Coast is stable and currently growing; however, the GDP of the nation is expected to reach $48.00 billion by the end of 2020, according to Trading Economics global macro models and analysts’ expectations. In the long-term, the Ivory Coast GDP is projected to trend around $54.00...
Hindalco Industries Limited has extended the growth of its aluminium product prices with effect from Tuesday, November 3. The price of Hindalco’s aluminium wire rods has been raised by INR 1,750 per tonne from INR 166,350 per tonne to INR 168,100 per tonne, as of November 3. With the latest hike,...
Hindalco Industries Limited has hiked its aluminium products price after declining it for the second time in a row. With effect from Saturday, 31 October 2020, the company’s wire rods price stands at INR 166,350 per tonne, up by INR 2,750 per tonne, from INR 163,600 tonne on October 31. Aluminium...
On 29 th October’20, MBF Aluminium in France carries out the procedure of filing for bankruptcy of the foundry before the commercial court of Dijon. Saint-Claude based MBF Aluminum foundry is in default of payment, being unable to settle its debts. To act on this new aspect of the procedure, a...
Wheels India Ltd. commissioned new cast aluminium wheel plant with an investment of INR 177 crore. The facility, located at Thervoy Kandigai, Tamil Nadu, will have an annual production capacity of 7.5 lakh wheels. Srivats Ram, MD, said, “We will start shipping cast aluminium wheels shortly....
Nasmyth, a global supplier of precision engineering solutions and metals has signed a multi-million-pound contract with Incora, the global provider of innovative supply chain solutions to the aerospace and other industries, will manufacture precision engineered components for multiple platforms...
Hindalco Industries Limited has reduced its aluminium products price for the second time in a row. With effect from Friday, 30 October 2020, the company’s wire rods price stands at INR 163,600 per tonne, down by INR 1,250 per tonne, from INR 164,850 tonne on October 28. Aluminium billets price to...
The economy of Greece to grow 2.8% in 2020 in regards to investment, lower taxes, and budget projects. As per Reuter’s report in the last phase of the previous year, Greece expects its economy to grow by 2.8% in 2020, driven by higher investments, improving domestic demand and tax cuts as the...
Bulgaria’s aluminium products manufacturer Alcomet reported net profit of 818,000 levs in the first nine months of 2020, down from 8.3 million levs in the first nine months of 2019. Sales of extruded products increased by 10.2% year-on-year to 19,878 tonnes. Rolled products sale came in at 33,931...
According to Shanghai Metals Market, stocks of 6063 aluminium billet across five major consumption areas in China dropped 700 tonnes from previous week to stand at 90,200 tonne as of Thursday, 29 October 2020. The chart below indicates the current status of aluminium billet inventories across China...
AMAG Austria Metall AG has announced the comprehensive financial and operational reports for the first nine months of the year 2020, revealing that its revenue decreased by 18.1 per cent year-on-year from EUR 821.5 million to EUR 673.2 million. Earnings before interest tax, depreciation and...
Hungary's economy could shrink by 5% in 2020, says Mihály Varga, Finance Minister. Earlier data showed that Hungary's industrial output dropped by 30.7% on the year in May after a 36.8% plunge in April, as the volume of output dived across the board in manufacturing. The fall was especially...
A proud and trusted supplier of Aluminium flat-rolled products, Bridgnorth Aluminium has been reported with COVID-19 outbreak; at least 19 peoples got infected at the factory. The Shropshire Public Health Director has warned Shropshire was 'on the edge of having further restrictions' imposed. All...
Kanfit Ltd based in Nof HaGalil, Israel, is to render the Additive Manufacturing of aluminium parts through its subsidiary Kanfit3D, with the addition of an SLM® 280 Laser Beam Powder Bed Fusion (PBF-LB) AM machine from SLM Solutions, Lübeck, Germany. Kanfit3D specialises in additive manufacturing...
Lightweight construction on the chassis has several advantages, as it improved driving dynamics, lower fuel consumption and greater driving comfort. In regards to that Saint Jean Industries presented a bi-material brake disc at the lightweight construction summit in Würzburg. Two-part brake discs...
The British Aluminium extrusion, fabrication and finishing firm EDMO have obtained seven-figure funding package from HSBC via the Coronavirus Business Interruption Loan Scheme (CBILS). Edmo has been a trusted name since 1978. Edmo based in Herefordshire works with a host of industries which...
Constellium announced results for the third quarter ended September 30, 2020. The company reported shipments of 354 thousand tons in Q3, a decrease of 11% year-on-year on lower shipments in all three segments. Revenue stood at €1.2 billion, down 20% YoY due to lower shipments and lower metal...
On 25 th October’20, Arab Aluminum (ALUM) disclosed to the Egyptian Exchange that Kharafi Construction reduced its stake from 43.20% to 37.89%. Kharafi Construction, a Grade 'A' General Contractor with the experience of executing major construction and infrastructure projects throughout Kuwait has...
