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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As a recent development in the case regarding circumvention of antidumping and countervailing duties by China Zhongwang, on Friday, the U.S. Department of Commerce determined through preliminary investigation that Zhongwang used heat-treated 5050 alloy aluminium extrusions to avoid duties, a press release from Aluminum Extruders Council confirms. DOC concluded that this alloy grade was never intended to be used in extrusion applications and that it was an activity targeted at avoiding higher duties. Commenting on the determination, Alan H. Price, counsel to the Petitioners and chair of Wiley Rein’s International Trade Practice said, “We are gratified by Commerce’s preliminary determination to take steps to shut down what has been a significant avenue of circumvention for Zhongwang and...
Shares of Hindalco Industries slipped on Tuesday amid reports that the company was planning to raise about $500 million through a share sale to reduce debt after a robust performance of the stock all through 2016. Shares of the aluminium maker have risen 97.41 per cent to INR 167 since the beginning of the calendar year till November 7. The scrip was trading at INR 84.85 on January 1, 2016. The benchmark BSE Metal index has gained 40.41 per cent during this period. The metal flagship of the Aditya Birla Group is ‘relentlessly focused on deleveraging’ in the short term, Hindalco Managing Director Satish Pai said on an August earnings call with analysts. Reacting on the news, shares of the company wiped off the initial gains and traded 0.36 per cent down at INR 166.90 in late afternoon...
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Hindalco Industries shares were up 3% at INR 172 on BSE, trading at its highest level since December 2014(23 months high), after the company’s subsidiary Novelis reported adjusted EBITDA of $270 million in comparison to $182 million in the same period of 2015. Excluding metal price lag in both periods, this recorded a growth of 14%. At 9.50am on Tuesday, the stock was trading at Rs172 on the BSE, up 2.5% from its previous close. Notably, on Tuesday November 8 Hindalco Industries Ltd became the first Nifty index company in 2016 to gain over 100% so far this year. On Saturday, November 12, 2016, the board of directors of the company is expected to meet to consider the unaudited financial results of the company, for Q2FY17. According to Motilal Oswal Securities forecast, “Hindalco’s...
Novelis, the world leader in aluminium rolling and recycling, today reported a net loss of $89 million for the second quarter of fiscal year 2017, compared to a net loss of $13 million in the prior year period. Current quarter results include $112 million loss on extinguishment of debt related to the refinancing of $2.5 billion of Senior Notes during the quarter which will drive significant interest savings, and $27 million related to the sale of Novelis' equity interest in Aluminium Company of Malaysia, a non-core operation in Malaysia. Excluding these and other tax-effected special items, the company reported net income of $60 million in the second quarter of fiscal 2017, up from $25 million reported in the second quarter of fiscal 2016. "We continued driving the positive momentum...
Precision engineering and advanced manufacturing leader Arconic today announced a multi-year contract with Airbus valued at approximately $1 billion. The contract gives Arconic aluminum sheet and plate an unprecedented position on Airbus’ highest volume programs. “This large contract is a further important step to expand our leadership position in the aerospace industry," said Klaus Kleinfeld, Chairman and CEO of Arconic. "We are proud that Airbus has chosen us to support their fastest growing, technologically advanced programs. Partnerships like this with industry leaders are core to our strategy and this contract is another proof point of the potential that lies in it. We continue to focus on developing products and technologies that take all of our aerospace customers to new heights.”...
Overcapacity, falling LME prices, and escalating cost of production in the non-oil producing countries have been the bane for global aluminium industry for over a year now. If that weren’t enough, a number of old capacity restarts and new additions in China have added another spoiler. Markets that once dominated the primary aluminium space have been feeling the heat like never before resulting in mounting losses and resultant capacity cuts and closures. Whether it is in the US or in countries like India, surviving solely on primary aluminium manufacturing is becoming increasingly difficult today. No wonder, companies are focusing on value-addition and downstream manufacturing to leverage upon the improving aluminium demand that seems to be the only silver lining in the otherwise dwindling...
Real Alloy Holdings Inc. a Beachwood based company has reportedly invested $24 million in acquiring “select assets” of Beck Aluminium Alloys based at Mayfield Heights, along with "significant minority equity ownership interest" in an affiliated aluminum and alloy broker/distributor. The deal gave Real Alloy Holdings operating rights on recycling facilities in Houston, Mt. Pleasant and Wis., along with the much lazed arena in Lebanon, Pa. Another significant part of the acquisition is that it also includes three very crucial operation locations in Wisconsin, Texas and Pennsylvania. Expansion to all three locations at once will open up new pathways to the company to set up a strong field thus expanding its offering into “high purity foundry alloys". The company will now focus on giving...
Automotive parts maker Hansens Aluminum LLC, a family owned South African company, plans to locate a 90-job, $18.4 million manufacturing facility in Henderson. The company plans to build a state-of-the-art aluminium extrusion facility of up to 75,000 square feet at the Henderson County Riverport beginning in April. The plant could start producing automotive components by the end of 2017 and will supply customers throughout the U.S. and Mexico. "We see great opportunities to supply our existing customers from Kentucky and to add new clients. The Henderson operation will expand our global capacity and allow us to add new automotive products to our range," said Jared Pudney Hansens business development manager. "The support we have experienced at a local and state level from both elected...
AMAG Austria Metall AG has reported results for its third quarter 2016 and continued its positive earnings trend reporting significant YOY earnings growth in the first nine months of 2016. Highlights: • Shipment volumes up 7 % to 309,000 tonnes due to new hot rolling mill • Revenue down 2 % YOY to EUR 687.1 million due to low aluminium price • EBITDA up 7 % to EUR 109.7 million • Net income after tax deduction up 15 % to EUR 38.5 million • Company raises FY 2016 earnings forecast • "AMAG 2020" expansion project running on budget and on schedule AMAG shipped 309,000 tonnes during the first nine months of 2016, recording 7 % growth over the same period of 2015. The company shipped 153,900 tonnes of aluminium rolled products reporting a growth of record 15 %. Low revenue of AMAG during the...
Alcoa has officially separated into two independent companies, as the aluminium major separated its upstream operations from the value added businesses that supply the aerospace and automotive markets. After the separation, shares of Alcoa Corporation- the spin-off that contains the primary aluminium operation shot up 7.3 per cent to $US23 in New York trading on Tuesday. On the other hand shares of Arconic- the value added or downstream segment, fell 12 per cent to $US18.92. The split was the brainchild of Klaus Kleinfeld, who has led the company since 2008 and will be CEO of Arconic. He wished to create “two leading-edge companies, each with distinct and compelling opportunities” through the split. The split was announced with an intention to capitalize on the growing value added...
According to a Reuter’s report, a dozen U.S. senators urged the Obama administration on Wednesday that a national security review panel rejects China Zhongwang’s proposed $2.3 billion takeover of U.S. aluminium products maker and a major aerospace supplier Aleris Corp. The deal marks the highest price ever paid by a Chinese firm for a U.S. metals producer and it has shocked many U.S. aluminium-industry officials as the deal has come in a period when the U.S. aluminium industry is taking a stand against Chinese import. In a letter to the Treasury Secretary Jack Lew the senators requested to launch a review of the deal and "ultimately reject it" on grounds that it would “directly undermine our national security” “by jeopardizing the U.S. manufacturing base for sensitive technologies”. The...
European demand for rolled aluminium products remains firm despite the region's sluggish economic growth, the European head of U.S.-based Novelis [NVLX.UL], the world's largest rolled aluminium product producer, told Reuters. "For Europe, we’re seeing good demand in our key markets of can and automotive," Emilio Braghi, Novelis' senior vice president and Europe president, said in an interview for LME week, a gathering of the world metal industry in London. "This growth is driven by favourable material substitution trends and continued automotive and packaging mix shift towards aluminium," Braghi said. "Sustainability is driving increased demand for aluminium as our customers are working to reduce the weight, improve the recyclability and increase the recycled content of their products."...
The much talked about demerger is finally complete. Alcoa Corporation has spun off from its parent company Alcoa Inc- now named and listed on the New York Stock Exchange (NYSE) as Arconic Inc (ARNC). Launched as a global leader in precision engineering, multi-materials innovation, and advanced manufacturing, the new standalone company will begin trading today on NYSE. According to an official release, the separation took effect on November 1, Tuesday, through a pro rata distribution by Arconic Inc. of 80.1% of the outstanding shares of the newly-formed Alcoa Corporation. Alcoa Inc. shareholders receive one share of Alcoa Corporation common stock for every three shares of Alcoa Inc. common stock held as of the record date of October 20, 2016. Alcoa Inc. shareholders also retain their...
According to an Aluminum Association estimate, Aluminum net shipments (including exports) by domestic U.S. and Canadian facilities totalled an estimated 2,027 million pounds during September. This recorded a 2.3 per cent increase YOY over the September 2015 total of 1,981 million pounds. Shipments of aluminium mill products were flat at 1,333 million pounds. However, shipments of aluminium ingot for castings, exports and destructive uses increased by 7.0 per cent YOY to 694 million pounds. Preliminary producer shipments from January to September 2016 totalled 17,767 million pounds, recording a growth of 1.9 per cent over the same period last year. Producer inventory levels in the U.S. and Canada totalled an estimated 2,909 million pounds in September 2016, which dropped 1.8 per cent from...
Shumen, Bulgaria based aluminium product manufacturer Alcomet AD has awarded leading engineering solution provider SMS group the order to supply an advanced cold rolling mill for producing a wide range of high-quality aluminium strips. Alcomet supplies rolled and extruded aluminium products to key Eastern European markets and its current portfolio features products such as tehnological foils, aluminium foil stock for industrial containers and daily household use, aluminium sheet and strips for coolers, construction, and heat exchangers. The company with almost 35 years of experience in non-ferrous metallurgy uses in-house cast strip of alloy series 1xxx, 3xxx and 8xxx as major input materials. SMS group's new cold rolling mill will offer Alcomet the flexibility to further diversify its...
Lindberg/MPH announced the shipment of an 85’ long electric resistance heated aluminium launder system to a leader in aluminium die casting. This launder system will be connecting the customer’s existing gas fired aluminium melting furnace to three (3) new electric resistance aluminium holding furnaces located at their three diecast machines. The launder eliminates equipment and manpower costs, as well as the inherent dangers, associated with transferring molten aluminium from the melting furnace to the three holding furnaces with fork lifts and transfer ladles. The launder also keeps the molten aluminium at a set point temperature until it reaches the holding furnaces which mean there is no temperature lost during transfer. Overall, this system saves energy by eliminating two (2) pours....
Constellium N.V.today announced the appointment of Peter R. Matt as Executive Vice President and Chief Financial Officer. Peter will join Constellium on November 1, 2016, as Executive Vice President and Chief Financial Officer Designate. He will officially become Constellium’s Chief Financial Officer on January 1, 2017. Until this time, Corinne Fornara, currently serving as Interim Chief Financial Officer, will be responsible for the function and will thereafter return to her position as Constellium’s Group Controller. "We are delighted to have Peter join our executive leadership team,” commented Jean-Marc Germain, Constellium’s Chief Executive Officer. Peter’s breadth of financial expertise, longstanding experience with the financial community and extensive knowledge of the metal market...
Japanese automobile and electronics parts manufacturer Hitachi Metals Ltd announced plans to develop a new aluminium-carbon composite that is 60 per cent lighter than steel and can be a cost-effective alternative of the presently available carbon fibres composites for automobile makers. The manufacturing company will start working on the project at a new R&D facility that is to be launched next spring. Hitachi hopes to come up with a workable version of the new aluminium-carbon composite by 2025. The material, a composite of two otherwise incompatible elements- aluminium and carbon, can be used in suspensions and various structural parts of a car. With the new material, Hitachi aims to solve the problem of joint corrosion that is common with these composites. The company will be using...
