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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Glencore will swap its 8.75 percent stake in Russian aluminium giant Rusal for shares in En+ Group, an aluminium and hydropower group controlled by tycoon Oleg Deripaska, En+ said on Wednesday. En+ Group plans to raise $1.5 billion in an initial public share offering (IPO) in London and Moscow in...
The US based global institutional investment management firm York Capital has completed the acquisition of Delfzijl aluminium smelter. Executives from the smelter, which started as Aldel and was later renamed as Klesch Aluminium, met York management to seal the agreement over the re-start of the...
The global mining giant Rio Tinto Group is mulling sales of its aluminium operations in Australia and New Zealand, reported the Financial Times. The sale of assets includes Pacific Aluminium and a power station at Gladstone, for which the group is in talks with Sanjeev Gupta owned Gupta Family...
The week gone by has marked a few developments in the global aluminium trading sector. Merger and acquisition has played key role in the week’s business development. Expansion in the casting, extrusion and rolling segment indicates the aluminium demand growth in the automotive and construction...
Rio Tinto, the third largest aluminium producing company in the world, is mulling the sale of its biggest aluminium smelter in Europe after the prices for the metal surged in the last few months. LME aluminium has risen by about 30 per cent this year, and this has lent momentum to Rio’s plan of...
Reliance Steel & Aluminum Co. announced through a press release that effective October 2, 2017; it acquired all of the common stock of Ferguson Perforating Company through its wholly-owned subsidiary Diamond Manufacturing Company. Ferguson manufactures perforated metal parts for numerous...
Norsk Hydro’s acquisition of Orkla’s 50% ownership in Sapa was completed today, October 2, giving Hydro full ownership in the global leader in extruded aluminium solutions and making Hydro a leading force in the global aluminium industry. The combination makes Hydro the only global company in the...
Novelis, the world leader in aluminum rolling and recycling, announced Friday, September 29, that it completed the transaction for its joint venture with Kobe Steel, Ltd., a producer of aluminum rolled products in Japan. The joint venture, Ulsan Aluminum, Ltd., was formed by Novelis selling Kobe...
China's Jiuquan Iron & Steel Company (JISCO) has finalised its acquisition of the ALPART Alumina Refinery in Nain, St Elizabeth with the government. The three final parts to the deal were signed yesterday morning in Jiayuguan, China. A release from the Ministry of Transport and Mining yesterday...
According to a report published by Reuters, China Zhongwang and Cleveland’s Aleris Corporation decided to extend their merger agreement through September 29, representatives of the two companies said. The agreement was scheduled to expire September 15. "We remain in discussions with Zhongwang USA...
Marcventures Holding Inc, engaged in mineral development in the Philippines, is merging with Asia Pilot Mining Philippines Corp (APMPC) and BrightGreen Resources Holdings Inc (BHI) in a deal valued at $22.1 million (P1.125 billion). The company plans to issue a total of 1.125 billion shares priced...
Luiri Gold Limited announced that it has entered into a binding share purchase agreement to acquire Aluminium Metal Recyclers (Proprietary) Limited (AMR). AMR is a South African company which owns and operates a metal processing facility. AMR’s melting facility re‐melts aluminium furnace dross,...
According to a spokesperson from Aleris, the acquisition deal between China Zhongwang and Cleveland’s Aleris Corporation has not been called off by any side. According to a report published in Blloomberg on Friday, the merger agreement between both the companies has been extended to the middle of...
The downstream aluminium sector has shown remarkable developments in the field of expansion, product shipments, acquisition and innovation in the week gone by. A few major companies have signed new deals or announced plans of expansion or acquisition. The moves indicate a bullish aluminium market...
Anil Agarwal, chairman of Vedanta Resources, the metal and mining conglomerate has announced his plans to invest around INR 50,000 crore on business expansion in India in the next few years. "I have promised the government that the group will invest Rs 40,000-50,000 crore. My shareholders and my...
According to sources close to the company, Aditya Birla Group is currently looking at growing its aluminium operations overseas by evaluating possible bids for Constellium NV and Aleris Corp. The Indian billionaire Kumar Mangalam Birla is seriously evaluating such possibilities though the group...
Rio Tinto has completed the sale of its wholly-owned subsidiary Coal & Allied Industries Limited to Yancoal Australia Limited. From today, Yancoal takes over management of Rio Tinto’s thermal coal business in the Hunter Valley region of New South Wales. Rio Tinto will receive total consideration of...
Yunnan Aluminium Co Ltd., one of China's major aluminium producing companies, announced that the company has decided to acquire aluminium manufacturer Qujing Aluminum Co. for 35 million yuan. Qujing Aluminum Co. has a production capacity of 380,000 tonnes per year. Yunnan Aluminium will 94.35%...
