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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Ardagh Group, the packaging conglomerate controlled by Irish billionaire Paul Coulson, is preparing a binding offer for the assets being divested by drinks can makers Ball Corp and Rexam Plc, according to people familiar with the matter. Ardagh Group is competing against three private equity firms...
Apollo Global Management, Blackstone Group LP and Madison Dearborn Partners are in the second round of bidding for assets being sold as part of Ball Corp.’s acquisition of Rexam Plc, people familiar with the matter said. The divested operations could be valued at about $4 billion based on combined...
Aluminium manufacturer Xinren Aluminum Holdings on Thursday said it has received a S$780 million takeover offer from its major shareholder. The buyer, Merit Stand Inc, will offer to take over the company at S$0.60 per share, which is 25 per cent more than Xinren's last traded price of S$0.48. Merit...
Drinks can maker Rexam said it was on track to complete a merger with American packaging company Ball by the end of June, as it it unveiled flat annual profits. The FTSE 100 company made £362m in underlying pre-tax profits in 2015, an increase of 1pc on last year, driven by rising sales and higher...
Drinks can manufacturers Ball Corp and Rexam Plc have begun the process of selling assets, potentially worth more than US$3 billion, to meet antitrust regulations ahead of their planned merger, several people familiar with the matter said. Both companies are expected to meet with representatives of...
Owners of UC Rusal have signed an agreement with a Chinese firm for the purchase of Alumina Partners of Jamaica (ALPART), a bauxite mining and alumina processing plant located at Nain, St Elizabeth, in the south of Jamaica. Reliable sources said on Thursday that – in a process likely to be...
Noranda Aluminum Holding Corporation announced that the company has received approval from the United States Bankruptcy Court for the Eastern District of Missouri for its First Day motions related to its Chapter 11 restructuring. Collectively, the First Day orders issued by the Court on either an...
Metro Mining has extended the takeover offer period for Gulf Alumina Limited by one month to the 15th March 2016. Metro’s offer opened on Christmas Eve 2015, and is progressing in parallel as the company rapidly advancing its own project. The details of the offer include: 3.3 Metro shares for every...
French telecoms tycoon Xavier Niel's NJJ Capital has acquired a minority stake in Alliance Miniere Responsable (AMR), a Paris-based company developing bauxite reserves in Guinea, AMR said on Wednesday, 24 January. The stake, the size of which was not known, is the latest investment by one of...
Bauxite Resources Limited advises that completion of the sale of BRL's interest in the Bauxite Alumina Joint Ventures ('BAJV'), and the Buy-back of all of Yankuang's shares in BRL, occurred this morning following BRL Shareholder approval of the transaction at the EGM held on 18th January 2016. The...
Nashtec LLC, a Delaware limited liability company, is a joint venture company between Nabaltec (which holds 51% of the membership interests in Nashtec) and Allied Alumina LLC (which holds 49% of the membership interests). On Monday January 11, 2016, Nashtec’s supplier of aluminum hydroxide required...
Nanshan Aluminum has been reported to be mulling over plans to acquire aluminium asset and captive power plant of Shandong Yili Power. The acquisition is being strategized as an important step towards integrating its value chain further, Nanshan Aluminum said in a disclosure filed with the Shanghai...
Ball Corporation BLL announced that the European Commission has granted regulatory clearance in Europe related to its proposed acquisition of Rexam PLC, subject to the divestment of 12 plants in the European Economic Area ("EEA"). Ten of these plants manufacture can bodies, while the other 2...
Sherwin Alumina Co., the bankrupt unit of commodities giant Glencore PLC, made its bankruptcy-court debut in Corpus Christi, Texas, Wednesday and got preliminary access to $40 million in financing from another Glencore affiliate. Judge David R. Jones approved access to $500,000 of the loan and set...
Sherwin Alumina Co., the troubled U.S. unit of commodities company Glencore Plc, filed for chapter 11 bankruptcy Monday as a protracted slump in the price of aluminum and a labor lockout strained the alumina plant operator’s finances. Sherwin entered bankruptcy with a plan to sell its assets to...
Metro Mining has received acceptance forms for 19.1% of Gulf Alumina as the company progresses an off-market takeover expected to benefit significantly from operational and developmental synergies through economies of scale. The majority of the acceptance forms have been received from Gulf’s...
Metro Mining, in a news release earlier this month, had revealed its intention to make an offer to acquire all of the shares in unlisted company Gulf Alumina Limited. On December 2015, a bidder’s statement was lodged with the Australian Securities and Investments Commission and ASX in respect of...
Ball Corporation announced that it has completed acquisition of the remaining 39.9 percent minority interest in Latapack-Ball Embalagens Ltda., which supplies beverage cans and ends to the local Brazilian market. Latapack-Ball was founded in 1995 and was one of the most successful joint ventures in...
