ABB has secured two orders from China’s Southwest Aluminum to supply integrated automation and digital technologies for two six-high aluminium cold rolling mills, supporting the manufacturer’s wide-strip production expansion and upgrade. The projects involve a 2,500 mm two-stand mill and a 3,000 mm single-stand mill, with both lines expected to be fully commissioned and operational by the end of 2027. Chongqing-based Southwest Aluminum is a subsidiary of the Aluminum Corporation of China (Chinalco). The orders build on the longstanding cooperation between ABB and the aluminium producer, with the latest projects focusing on process stability, control precision and production performance. Explore insights and forecasts for the aluminium flat rolled products (FRP) market from our...
India-based PG Foils Limited plans to establish a downstream aluminium manufacturing facility in Bahrain, focusing on electric vehicle (EV) battery foil and pharmaceutical foil production. The proposed investment is expected to expand the kingdom’s aluminium downstream capabilities and strengthen its manufacturing base. Bahrain’s Ministry of Industry and Commerce signed a letter of intent with PG Foils for the project. The agreement was signed by Industry and Commerce Minister Abdullah bin Adel Fakhro and PG Foils Joint Managing Director Sahil Shah during the fourth edition of the Gateway Gulf expo, which opened on November 1 in Manama. Explore: The most comprehensive and forward-looking industry-focused report – Aluminum Foil Market Report Forecast Till 2035 Hosted by the Bahrain...
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The Chinese metals and mining company Fujian Minfa Aluminium Co. announced Friday, August 18, its financial results for the first six months of 2017. The Quanzhou based manufacturer and distributor of aluminium alloy extruded profiles and other products for Building-Architecture and other industries reported RMB 513 million revenues in H1 2017, up 11.9 per cent from the corresponding period previous year. Minfa Aluminium’s net profit for the six months ended June 30, 2017, was up by 88.57 per cent year-on-year at RMB 12.93 million. The company attributed the growth in net profit to the rising aluminium extrusion sales prices that was driven up by the buoyancy in primary aluminium prices. Revenues from aluminium formwork sales also increased driving up net profit. Fujian Minfa Aluminium...
Italian aluminium extrusion company, OMAV has received the delivery of a shipment of aluminium extrusion equipment from Al Ain, UAE via Cargo firm Integrated Freight and Logistics in Stacca, Italy. The consignment includes machinery measuring 2,000 cubic meters, parts, equipment, electric panels, components and other accessories weighing 600-tonnes. “Cranes were used to load the main cylinders weighing 50 tonnes each … The port of discharge was Genoa, Italy, and the shipment further travelled 250 kilometers to the doorstep of OMAV in Stacca,” an IFL spokesperson said. IFL is a member of the breakbulk association XL Projects who are into delivery of large size plant equipment. They recently delivered large coal power plant equipment by Pakistani member Freight Connection Group.
Midas Holdings Limited‘s subsidiary Jilin Midas Aluminium Industries Co., Ltd has secured three supply contracts from customers in the People’s Republic of China . The combined value of high speed train contracts is RMB184.4 million. CRRC Tangshan Co. has given the first two contracts worth RMB32.8 million and RMB81.9 million separately. The contracts involve the supply of aluminium alloy extrusion profiles and fabricated parts for two types of high speed trains. CRRC Changchun Railway Vehicles Co., Ltd has the third contract worth RMB69.7 million and involves the supply of aluminium alloy extrusion profiles and fabricated parts for high speed trains. Mr. Patrick Chew, Executive Director and Chief Executive Officer of Midas, said, “The latest high speed train contract wins highlight the...
Atlanta-based Novelis, the world leader in aluminium rolling and recycling hopes to continue its partnership with China and expand investment in China's electric vehicle sector and other automotive ventures. Novelis selected Changzhou, in Jiangsu province, as the site for its first manufacturing facility in China in 2014, due to its logistic facilities and government incentives schemes for foreign investment. The Changzhou plant now produces 120,000 tons of heat-treated aluminium sheets annually and meets the growing demand for rolled aluminium from automakers to be used in conventional as well as lighter, more fuel-efficient new generation vehicles. "The driving force behind our business strategy in China is the nation's increasingly strict policy against pollution," said Pierre Labat,...
Midas Holdings Limited, the leading manufacturer of aluminium alloy extrusion products for the passenger rail transportation sector in the People’s Republic of China, announced results for the three months ended June 30, 2017. Net profit after tax jumped 197.1 per cent to RMB55.5 million for the three months ended 30 June 2017, from RMB18.7 million in the second quarter of 2016. Midas’ revenue rose to 32.1 per cent to RMB505.6 million in 2Q2017, as compared to RMB382.8 million in 2Q2016. The company said the increase was mainly attributable to the inclusion of revenue of RMB109.6 million from the Group’s Aluminium Alloy Stretched Plates Division. The Aluminium Alloy Stretched Plates Division accounted for 21.7 per cent of total revenue in the quarter. “The Aluminium Alloy Extruded...
In a first-ever move under the Insolvency and Bankruptcy Code (IBC), 2016, the Hyderabad bench of the National Company Law Tribunal (NCLT), India, has approved an insolvency resolution plan for Synergies Dooray Automotive Limited (SDAL), an aluminium alloy wheel supplier to global auto manufacturers such as Ford. As part of the plan, Vishakhapatnam-based aluminium alloy wheel manufacturer Synergies Castings Limited (SCL), an SDAL subsidiary will merge with its holding company in an amalgamation scheme. Incorporated in 1995, SDAL had been engaged in aluminium alloy wheel manufacturing until it stopped operations on grounds of insolvency. The approved IR plan was prepared the company’s IR professional Mamta Binani. The plan will be funded through operations and against receivables from...
The Aluminum Association’s “Index of Net New Orders of Aluminum Mill Products” for July decreased 10.3% month on month. Orders for flat roll products (sheet, plate, can stock and foil) dropped 10.1% month-on –month. On an YTD comparison, the orders were up 1.8% in the first seven months of 2017. Shipments of aluminium foil by U.S. and Canadian producers stood at 84.3 million pounds during July 2017, down 2.1% from July 2016. Compared to the previous month, shipments declined 3.2% from the June 2017 total of 87.2 million pounds. YTD shipments through July 2017 were down 2.8% to 569.3 million pounds from the same period of 2016. Aluminum Association reports that shipments of can stock by the US and Canadian producers stood at 348.6 million pounds during July 2017, registering a slight drop...
Alumil Rom Industry, producer and distributor of aluminium extrusion and profiles for architectural use in Romania, registered a net profit of 230,954 lei ($303,600/224,700 euro) in the first six months of 2017, down by 56 per cent. The company said in an unaudited financial statement posted on the Bucharest Stock Exchange BVB website. Alumil Rom Industry‘s sales revenue increased 3.22 per cent to 28.18 million lei in the first six months of this year from 27.30 million lei a year ago. The company made an operating profit of 592,012 lei through June, a fall of 38 per cent. The gross margin decreased 1.39 per cent to 8.51 million lei in the first six months of 2017 from 8.63 million lei in the first six months of 2016. The company had total assets of 73.50 million lei on June 31 from 78.44...
Braidy Industries has selected a 380-acre site on the Ohio River near Ashland, Kentucky for a $1.3 billion, 2.5-million-square-foot aluminium rolling plant that it announced in April 2017. The news has been confirmed by the Commercial Property Executive. The company expects to start construction of the first Greenfield aluminium rolling mill in the U.S. in more than 30 years by early 2018. The plant is estimated to produce 370,000 tons of aluminium sheet and plate annually to supply to the automotive and aerospace industries. The plant is also expected to draw $25 million state incentives, with $10 million in tax breaks tied to investment and job creation goals throughout the next 15 years. The Braidy project is one of the series of developments in the recent times to expand U.S....
According to an SMM report, downstream producers thronged the East China spot market after SHFE 1708 aluminium fell over 200 RMB/tonne on Monday morning. It is notable that sellers who were making huge profit on the rise of price got discouraged to sell after the fall in SHFE aluminium, while traders and consumers showed modest willingness to buy the metal, SMM found. Mainstream traded prices for aluminium were 15,520-15,540 RMB/tonne in Shanghai, 15,520-15,540 RMB/tonne in Wuxi, and 15,560-15,580 RMB/tonne in Hangzhou. Last week, SHFE 1710 aluminium hit the highest since April 2012 at 16,460 RMB/tonne and LME aluminium touched the highest since December 2014 at $2,046.5/tonne. SMM predicted that fading positive factors would expose aluminium prices to small downward corrections in the...
National Aluminium Company Limited (NALCO) yesterday announced that the company is considering lending its brand name to downstream micro, small and medium enterprises (MSMEs) that deals with aluminium application. Dr. Tapan Kumar Chand, CMD of NALCO, has made the announcement while addressing the participants at the 31 st Annual State level Convention of Odisha Assembly of Small & Medium Enterprises at Bhubaneswar. Dr. Tapan Kumar Chand stated: “While Nalco provides a large market for the Micro Small and Medium Enterprises of Odisha and has supported the growth of the sector as a responsible Mother Plant, the company is now considering lending its brand name for downstream MSME industries dealing with aluminium applications”. He said the move would not only boost the small and medium...
On August 8, U.S. Department of Commerce announced its preliminary determination that imports of certain aluminium foil from China are benefitting from unfair government subsidies. Aluminum Association applauds this preliminary determination in foil investigation. “The association and its foil-producing members are very pleased with the Commerce Department’s finding and we greatly appreciate Secretary Ross’s leadership in enforcing U.S. trade laws to combat unfair practices,” said Heidi Brock, President and CEO of the Aluminum Association. “This is an important step to begin restoring a level playing field for U.S. aluminum foil production, an industry that supports more than 20,000 direct, indirect, and induced American jobs, and accounts for $6.8 billion in economic activity,” she...
Rockman Industries, a part of Hero Group and a supplier of aluminium die casting components, has planned to set up an aluminium die casting facility in the Chittoor district of Andhra Pradesh. Andhra Pradesh Chief Minister N. Chandrababu Naidu yesterday accepted the company’s proposal. The company is investing a sum of INR 540 crore for setting up the die casting plant. The investment will be made over the next six years. This would also generate 1600 employment opportunities. Director of Rockman Industries V. Veerappan met N. Chandrababu Naidu in the presence of Andhra Pradesh Economic Development Board (APEDB) CEO Jaasthi Krishna Kishore. They discussed the production of die casting parts as well as other components for the two and four-wheeler market. According to the statement from...
Aleris Corporation reported net loss of $2 million in the second quarter ended June 30, 2017 compared to net loss of $13 million in Q2 2016. Adjusted EBITDA was up slightly to $66 million from $65 million in Q2 2016. Commenting on the results, Sean Stack, Aleris Chairman and CEO said. "We delivered solid results in the second quarter and first half." "I am very pleased with our global team's focus and execution during the quarter, delivering much stronger operating performance while also making substantial progress on our Lewisport automotive expansion. As we expect to conclude the project later this year and begin shipping product, we will have strategically repositioned our business, enabling Aleris to focus on higher growth and a much higher value added mix." Higher adjusted EBITDA was...
China urged the U.S. government on Thursday to act "prudently" to avoid damaging economic relations between the two countries, in a strongly worded response to Washington's preliminary decision to slap anti-dumping duties on Chinese aluminium foil. In a statement posted on the Ministry of Commerce's Wechat account, the government said the United States had ignored cooperation offered by Beijing and Chinese companies in making its ruling this week. The statement, attributed to Wang Hejun, head of the Commerce Ministry's trade remedy and investigation bureau, was more strongly worded than typical responses to trade disputes with the United States. The statement said there were no grounds to accuse China's aluminium producers of benefiting from subsidies.
India’s leading automotive component manufacturer and aluminium die-casting producer Endurance Technologies Ltd reported its financial results for the first quarter ended June 30, 2017 yesterday. The company’s revenue and profit after tax improved both sequentially as well as year-on-year, thanks to a rebound in the domestic two-wheeler sales. Endurance Technologies’ revenue for Q1Fy2018 increased 13.4 per cent quarter-on-quarter and 9.1 per cent year-on-year to stand at INR 1678.2 crore. Its EBITDA for the quarter was up by 7.4 per cent Q-o-Q at INR 287.6 crore. The EBITDA margin registered a 17.14 per cent growth. The net profit for the aluminium die-casting and automotive component manufacturer was registered at INR 96.5 crore for Q1 FY2018, which marked an impressive 15.5 per cent...
The United States Commerce Department yesterday announced that they have imposed countervailing duties on aluminium foil imports from China. The Commerce Department found imports of aluminium foil from China are subsidised. The Department has imposed duties ranging from 16.56 per cent to 80.97 per cent. The Commerce Department will instruct US Customs and Border Protection to collect cash deposits from importers of aluminium foil from China based on these preliminary rates. In March, the United States Department of Commerce announced that it has launched a probe to determine whether Chinese aluminium foil imports in the U.S. should be subject to anti-dumping and anti-subsidy duties. Commerce Secretary Wilbur Ross said, “The United States is committed to free, fair and reciprocal trade,...
Gulf Aluminium Rolling Mill’s (GARMCO) Remelt expansion project produced the first aluminium on Thursday 3 August 2017. The $55 million recycling and cast house plant would increase its production capacity by 150% to 200,000 tonnes of aluminium slabs per annum. GARMCO is the first and one of the largest downstream aluminium facilities in the Middle East. The company produces high-quality flat rolled aluminium products in various sizes and alloys. GARMCO’s Acting CEO, Mr. Mohamed Essa said, “We take this opportunity to thank all team members and partners who have contributed to achieving first metal at the expansion project. “This project will further develop the Kingdom’s downstream aluminium industry; the facility will increase GARMCO’s production capacity by 150%. We now look forward to...
