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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Shandong Hongqiao New Materials Co., fully-owned subsidiary of China Hongqiao Group, will further strength its parent’s aluminium integrated business by acquisition of a local aluminium processor. Shandong Hongqiao New Materials Co. and Loften Environmental Technology Co. recently signed M&A...
Constantia Flexibles has completed its acquisition of Vietnamese pharmaceutical packaging manufacturer Oai Hung, strengthening its presence in Asia. Headquartered in Ho Chi Minh City, Oai Hung produces aluminium blister foil and rigid film for the growing local pharmaceutical market. In addition,...
Gränges AB has emerged as the winner in the court supervised auction to acquire Noranda Aluminum Holding Corporation’s downstream aluminium rolling business in the United States. The final bid values the business and related assets to USD 324.2 million on a cash and debt free basis (Enterprise...
Potential buyers have come forward for Rio Tinto Alcan’s Lochaber operations, which have been under threat since January. It was revealed this week that the company is "assessing prospective partners, investors and buyers" for the plant, which employs around 150 people. At the beginning of the year...
Ball Corp. on Thursday finalized its $6.1 billion acquisition of British competitor Rexam, making the Broomfield-based company the largest (aluminium and tinplate) beverage can maker in the world. Ball also assumed $2.4 billion of debt in the deal. The combined company accounts for 60 percent of...
Consolidated Precision Products Corp., a leading manufacturer of highly engineered components and subassemblies primarily for the commercial aerospace and defence markets, announced tyesterday hat it has completed its acquisition of two casting facilities from Pratt & Whitney Rzeszów S.A., a...
The People’s Republic of China’s China Hongqiao Group Ltd., the world’s top aluminium producer by volume, announced that it entered into an agreement last week to purchase the entire equity interests of Binzhou Municipal Beihai Xinhe New Material Co., Ltd. for US$320 million. Beihai Xinhe’s equity...
Ball Corporation has agreed to sell to Ardagh Group S.A. eight U.S. aluminium can plants and associated assets in order to settle FTC charges that its proposed acquisition of Rexam PLC – worth $8.4 billion when proposed in February 2015 – is likely anticompetitive. According to the complaint, the...
China Hongqiao Group will spend 2.12 billion yuan ($319 million) in acquiring all stakes in one Chinese alumina producer, reported industry sources. The alumina producer to be acquired, namely Binzhou Beihai Xinhe New Materials Co., now has designed annual alumina capacity at 2 million tonnes and...
Norway’s Sapa Group announced Saturday that it has divested itself of metal trading company Cuprochimique NV. Belgian firm European Metal Supplies NV are the new owners of Cuprochimique as of Wednesday, June 22. “Together with Cuprochimque we will strengthen our position in the market by expanding...
The European Union on Monday, June 20, cleared packaging company Ardagh SA’s roughly $3.42 billion acquisition of assets belonging to Ball Corp. and Rexam PLC, clearing the way for the aluminium beverage can-makers’ merger. The European Commission, the bloc’s antitrust agency, said in a statement...
Global packaging giant Amcor has flagged the likelihood of plant restructures and closures following its recent $450m profit impairment. The company revealed plans to ‘streamline the organisation’ stating it will ‘likely result in the restructuring or closure of several plants in developed...
Manufacturer Whitehall Industries of Ludington has been acquired by a Japanese aluminium supplier. According to a statement, SRS Industries LLC, which does business as Whitehall Industries, was acquired in May by UACJ Corp., a Tokyo-based aluminium manufacturer. Whitehall Industries is a vertically...
Bankrupt aluminium producer Noranda is seeking bankruptcy court approval to sell off its so-called upstream business, including its now shuttered smelter in New Madrid, Missouri. Tennessee-based Noranda Aluminum Holding Corp. said Monday it had filed a request in bankruptcy court for approval for...
Noranda Aluminum Holding Corporation announced that it has entered into an asset purchase agreement with Gränges AB, under which a subsidiary of Gränges will serve as the "stalking horse" bidder for Noranda's Flat-Rolled Products business in a court-supervised sale process designed to maximize the...
Germany’s Scholz Group has continued the process of streamlining its portfolio by selling its aluminium recycling business ScholzAlu Stockach GmbH, which is based at Stockach on Lake Constance. All of the shares have been purchased by investors advised by Orlando Management AG. Employing 160...
Sagar Asia Private Limited has entered into an asset purchase agreement with Golkonda Aluminium Extrusion Limited to purchase certain assets from Golkonda Aluminium located in Hyderabad. In a journey of over three decades, Sagar Asia has attained leadership in the Indian market as a manufacturer of...
Relations between Alcoa and Melbourne’s Alumina continue to sour ahead of a legal shootout in September on Alumina’s rights to force a reworking of the global alumina alliance, known as AWAC, between the pair because of Alcoa’s planned demerger. In a rare Sydney briefing to local investors and...
