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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Liberty House Chairman Sanjeev Gupta is reportedly considering buying the Portland aluminium smelter in Victoria, in an attempt to save the Australian facility from likely closure. The fate of one of Alcoa’s worst-performing smelters has been under a cloud for months, as the high cost of...
GFG Alliance has reached an agreement with Novelis to buy Aleris’s Duffel aluminium rolling mill in Belgium, S&P Global Platts reported. The deal is subject to review and consents from EU authorities and China's State Administration for Market Regulation. GFG said it expects the Duffel deal to be...
Tajikistan would be selling a stake in its main industrial concern Tajik Aluminium Company to a Chinese firm in exchange of much needed cash investment. This was reported by local media on December 4 citing Beijing’s former ambassador to Tajikistan, Yue Bin. He said that the acquisition would be...
The year 2019 proved to be a robust one for mergers and acquisitions for the global aluminium industry. Mergers and acquisitions played a key role in expanding businesses of the industry players across aluminium value chain. The companies continued to invest in acquisitions to capitalize on the...
Gränges, a global leader in aluminium engineering, manufacturing and innovation, has reportedly agreed to buy Polish aluminium producer Aluminium Konin for 2.3 billion Swedish crowns ($239 million). The news came after the company announced on Thursday, November 28, while also saying that this deal...
Alpine Aluminum, based in Gran-Gevrier, Haute-Savoie, France, which was placed in bankruptcy proceedings in August, received potential buying offers from two buyers. The commercial court of Annecy city, France, which was to decide between the two offers for the recovery of the company on 26...
According to a recent report, Press Metal Aluminium Holdings Bhd has bought a 25 per cent stake in PT Bintan Alumina Indonesia for US$80.23 million. The Southeast Asia’s largest smelter has signed a share subscription agreement with PT Mahkota Karya Utama (PT MKU) and PT BAI, and a shareholders’...
According to a recent report, Hindalco’s US-based subsidiary Novelis is expected to close the deal of the acquisition of Aleris Corporation by January 21, 2020. But currently the company is facing an anti-trust lawsuit in the US over its proposed $2.58 billion purchase of Aleris. The lawsuit was...
Press Metal Aluminium Holdings Berhad (PMAH) announced that its wholly-owned subsidiary PMB (Klang) Sdn Bhd entered into an agreement with Everlast Aluminium, a wholly-owned subsidiary of PMB Technology Berhad, for the proposed acquisition of the entire equity interest in PMB Central, PMB Northern...
Wynnchurch Capital has invested in Eastern Metal Supply (EMS), a distributor of aluminium extrusions and related products. The terms of the investment were not disclosed. Founded in 1982, Florida-based EMS now has fourteen nationwide distribution centers and manufacturing facilities, totalling...
The proposed acquisition of Aleris by Novelis has been approved by the European Commission under the EU Merger Regulation on condition that Novelis would sell Aleris' aluminium automotive body sheets business in Europe. “To address the Commission's competition concerns, the parties offered to...
Keith Gilbert, Andrew Spiers and a cross-service team at Freeths LLP have announced the acquisition of Harrison Castings. Harrison Castings Ltd is a specialist manufacturer of aluminium casting components in the UK. The company manufactures raw or fully machined aluminium sand castings and...
Carlton & United Breweries (CUB) announced the acquisition of Adelaide-based Riot Wine Co for an undisclosed amount, foraying into the wine business. Riot Wine Co, launched in 2016, is the only company in Australia that sells wine exclusively in kegs and cans. Riot co-founder and chief winemaker...
The week has seen a few major happenings in the downstream aluminium industry. The industry has witnessed acquisitions and plant shutdown by some of the top players in the downstream industry. Let’s explore the top stories covering the downstream products vertical for the week that went by: Hydro...
Allison Transmission Holdings Inc., the largest global manufacturer of medium-and heavy-duty fully automatic transmissions, has acquired Walker Die Casting and C&R Tool and Engineering in a deal worth approximately $103 million. Walker Die Casting, located in Lewisburg, Tennessee, produces...
Notwithstanding the lawsuit by U.S. Department of Justice (DOJ) to prevent the acquisition of Aleris, Novelis reaffirmed its commitment towards the proposed acquisition through a press release. The company says it will strongly defend against the DOJ's challenge which is without any merit adding...
According to a recent report, Hindalco’s United States unit Novelis Corporation has again faced a lawsuit for its $2.6 billion proposed purchase of aluminium parts manufacturer Aleris Corporation. The news came after the Justice Department said this on Wednesday, September 4, citing that this...
According to the Reuters report, Rio Tinto Plc has started an arbitration process with Sanjeev Gupta’s GFG Alliance as the latter has not made final payments for the purchase of the Dunkerque aluminium smelter in France. The news came after Rio Tinto confirmed this on Monday, September 2. In a...
