Constellium has sold its ownership stake in its automotive structures joint venture in Changchun, China, along with its partner, to a Chinese automotive holding company. The Changchun facility manufactures aluminium crash management systems and other structural components for the Chinese automotive...
Aluminium producers in the Gulf are increasing overseas acquisitions and investments as they seek to strengthen supply chains, expand market access and reduce exposure to regional risks. The trend comes as geopolitical tensions in the Middle East and disruptions around the Strait of Hormuz...
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On Monday, the Bulgarian Competition Authority announced that it had received a request to look into Cosmos Aluminium, a Greek firm, and its proposed acquisition of Etem Commercial and Industrial Light Metals, a subsidiary of Elvalhalcor Hellenic Copper and Aluminium Company JSC. The Commission on...
On February 24, 2023, the Joe Biden Administration slapped a 200 per cent duty on imports of Russian aluminium. According to the Aluminium Extruder Council, this directive will cover imports of Russian aluminium extrusion. Next.e.GO Mobile (e.Go) and Trafigura signed a memorandum of understanding...
On February 28, Hydro finally acquired Hueck after receiving clearance from the German and Austrian competition regulators. The two companies signed the agreement for the same on December 2022 . As per the reports, the acquisition will increase Hydro's market share in Germany and other European...
The Chinese aluminium producer Tianshan Aluminium Group, located in Shihezi, a sub-prefecture-level city in Northern Xinjiang, announced its plan to procure three bauxite mines in Indonesia for USD$30.3 million. On February 23, 2023, the Chinese company engaged in comprehensive aluminium production...
Following the completion of HarbisonWalker International (HWI)’s acquisition by Platinum Equity through a merger agreement, the global investment firm confirmed Calderys and HWI would join forces to create a leading world-class refractories solutions provider. Michel Cornelissen, currently...
The Austria-Vienna headquartered global refractory leader RHI Magnesita's CEO Stefan Borgas has stated that the company is investing INR 3,600 crore in the Indian market over the next two-three years to expand its production capacity and modernise facilities. However, Borgas also said that a...
The partners of DADA Holdings, LLC, announce that their affiliate, Niche European Holdings, LLC, has acquired a controlling stake in Niche Fusina Rolled Products S.r.l., which operates an aluminium rolling mill and related facilities in Fusina, Italy, just outside of Venice. Invitalia, the Italian...
Novelis Inc. posted its third-quarter financial 2023 results. According to the data, net income attributable to its common shareholders decreased from the prior year by 95% to $12 million, principally because adjusted EBITDA was lower, and there was a negative metal price lag caused by the current...
The Gurgaon-based Uno Minda Group has announced plans to invest INR 115.5 crore to buy out its Japanese partner Kosei's remaining 22.64 per cent ownership in its joint venture company, Minda Kosei Aluminium Wheels. In India, alloy wheels are increasingly being used on both two- and four-wheeled...
On February 3, 2023, Constellium announced the completion of the sale of its Ussel foundry to French Investment Holding Noe Industries. Among its many markets and applications, Constellium develops innovative and value-added aluminium products for aerospace, automotive, and packaging. Constellium...
The leading supplier in the area of electrostatic powder coating with a worldwide presence, Gema Switzerland GmbH celebrates the fifth anniversary of the acquisition of the Italian engineering company dedicated to designing, producing and installing aluminium extrusions surface finishing equipment...
Capral Aluminium, one of Australia's leading providers of aluminium products and associated services, finally completed its acquisition of Wollongong, New South Wales-based Allyman Aluminium on Friday, February 3. According to the firm, the acquisition is a part of Capral's goal to grow its...
Calderys, known globally for its advanced refractory products and services, has become an independent company encompassing the full scope of the High-Temperature Solutions business (HTS) area formerly under Imerys. US-based Platinum Equity owns the new company after completing regulatory approvals...
The age-old collaboration between Sam Popa, owner of American Aluminium Extrusion, and Beloit business titan Diane Hendricks was terminated on January 16, 2023, following a total buy-out. After 22 years of shared ownership between Sam Popa and the former held by businesswoman Diane Hendricks,...
While residing in the third quarter, Allspring Global Investments Holdings LLC acquired a new stake in Ardagh Metal Packaging S.A. (AMP), as was revealed in the latest filing with the Securities and Exchange Commission. Allspring bought around 751,511 shares of AMP, having a market value of...
On January 18, Econframe Bhd declared a company expansion phenomenon through which it wishes to diversify its operations. These two recent acquisitions are Trans United Sdn Bhd (TUSB) and Lee & Yong Aluminium Sdn Bhd (LYASB). Econframe promptly took over 65 per cent equity interest in LYASB, which...
This week noted some crucial developments in the aluminium downstream industry, from Craftsman Automation Ltd.’s investment announcement of INR 3.75 billion to purchase a 76 per cent share in DR Axion India Pvt to Kaiser Aluminium’s 2021 Sustainability Report. Besides, Romanian aluminium components...
Craftsman Automation Ltd., a leading aluminium components producer from India, has declared an investment of INR 3.75 billion to purchase a 76% share in DR Axion India Pvt, another aluminium automotive parts-making firm in Tamil Nadu. This was revealed in an exchange filling, and it is estimated...
