Downstream weekly recap: Indian Institute of Metals names Mr Satish Pai as the new incoming President; Nuveen Asset Management LLC sheds 892 shares of Kaiser Aluminium Co.
One of the leading aluminium industry firms in Sri Lanka, Alumex PLC, has proclaimed the commencement of its flagship loyalty promotion, "Divikavuluwa". The region's leading producer of aluminium extrusions is keen to launch community-based initiatives to strengthen the nation's aluminium fabricators' long-term prospects. The Indian Institute of Metals selected Mr Satish Pai, the managing director of Hindalco Industries, as its president (IIM). IIM is a suitable organisation for India's professional metallurgists. The third quarter of 2022 saw the sale of 892 shares of Kaiser Aluminum Co. by Nuveen Asset Management LLC, a provider of financial advice services, according to the company's most recent Form 13F filing with the Securities & Exchange Commission. The average operating rates of China's domestic manufacturers of aluminium plates, sheets, and strips increased by 0.62 percentage points month over month to 63.15 per cent in February 2023.
One of the biggest aluminium industry players in Sri Lanka, Alumex PLC, declared the initiation of its flagship loyalty drive, “Divikavuluwa”. The largest aluminium extrusion manufacturer in the region is eager to introduce community-based programmes to augment the future positions of the nation’s aluminium fabricators.
To know more: https://www.alcircle.com/news/alumex-launches-divikavuluwa-programme-binding-sri-lankan-aluminium-fabricators-together-91260
The Managing Director of Hindalco Industries, Mr Satish Pai, was named the President of the Indian Institute of Metals (IIM). IIM is an adequate body for professional metallurgists in India. It was formed as early as 1945 and was possible through the efforts of a few metallurgists.
To know more: https://www.alcircle.com/news/indian-institute-of-metals-names-mr-satish-pai-as-the-new-incoming-president-91279
Nuveen Asset Management LLC, an investment advisory solutions provider, quit 892 shares of Kaiser Aluminum Co. during the third quarter of 2022, according to the company’s most recent filing of Form 13F with the Securities & Exchange Commission.
To know more: https://www.alcircle.com/news/nuveen-asset-management-llc-sheds-892-shares-of-kaiser-aluminium-co-91261
According to the Shanghai Metals Market survey, the average operating rates of China's domestic aluminium plate/sheet and strip producers stood month-on-month higher by 0.62 percentage point at 63.15 per cent during February 2023. But on a year-on-year basis, the operating rates edged a significant downfall of 14.26 percentage point.
An additional round of capital investment is on the way at Stellantis' aluminium casting plant in Kokomo, Indiana, as the automaker prepares to use those three sites to produce electric drive modules (EDMs) for battery-electric vehicles.
To know more: https://www.alcircle.com/news/stellantis-invests-another-round-in-its-kokomo-aluminium-casting-operation-91253
Leicester-based Bridge Aluminium has officially bought the proprietary right of Grainger & Worrall Engineering, a firm that excels in producing aluminium casting components for the automotive industry.
To know more: https://www.alcircle.com/news/bridge-aluminium-acquires-automotive-components-casting-firm-grainger-worrall-engineering-91264
The world’s leading manufacturer and supplier of light alloy wheels for passenger cars and commercial vehicles, Ronal Group, planned to reduce 50 per cent in its manufacturing CO2 emissions by 2030 and CO2-neutral production of all its wheels by 2050 as part of its PLANBLUE sustainability plan.
To know more: https://www.alcircle.com/news/first-time-ronal-group-produces-wheels-from-100-secondary-aluminum-for-bmw-92263
On Wednesday, March 15, Constellium SE, a global producer of aluminium rolled products, extruded products and structural parts, published its 2022 Sustainability Report noting that it again achieved best-in-class safety performance, delivering 1.85 per million working hours versus a target of 1.5 per million hours in 2025.
In accordance with the restructuring plan signed in November 2021 following the company's reorganisation in February 2019, Gulf Aluminium Rolling Mill "GARMCO", a portfolio company of Bahrain Mumtalakat Holding Company, announced its first repayment to creditors of USD 23 million.
Eural, one of the largest European manufacturers of extruded aluminium bars and rods, developed new lead-free, free-cutting aluminium alloys, which are expected to be compatible with stringent regulations and offer excellent machinability and productivity.
To know more: https://www.alcircle.com/news/eural-develops-new-2077-lead-free-aluminium-alloy-with-high-mechanical-properties-92272
Novelis, one of the largest low-carbon aluminium solutions supplier and the world's leading aluminium rolling and recycling agency in partnership with an R&D laboratory, Net Zero Lab Valais, has reached acute success in ending the first year of operation. The collaboration introduced major projects focusing on optimising Scope 1 and 2 carbon-neutral aluminium productions at Novelis' Sierre plant in Switzerland.
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