Constellium divests Chinese joint venture as part of Vision 2028 strategy
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...
Gulf aluminium producers accelerate overseas acquisitions amid geopolitical and supply chain risks
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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Sapa sells automotive components company Autocar
Sapa has sold its 100-percent-owned company Autocar Tecnologie Srl to the Italian firm Il Telone. Autocar produces components, mainly in steel for roofs, doors and side pillars, for trailer OEMs and distributors in Europe. Acquired by Sapa in 2010, Autocar has annual turnover of approximately EUR 9...
ELVAL Hellenic Aluminium Industry announces commencement of spin-off
ELVAL Hellenic Aluminium Industry S.A. announces to the investment community, that on July 30, 2015, the Boards of Directors of ELVAL S.A. and its wholly owned subsidiary, non-listed company, Symetal Aluminium Foil Industry S.A. decided the commencement of a spin-off procedure concerning the...
Ball runs into antitrust wall over Rexam purchase
The ball is in the European Union's court. The $6.8 billion merger between the world's two biggest can and bottle manufacturers looks like it is running afoul of European antitrust concens. Earlier this year, the top can maker, Ball, offered to buy No. 2 manufacturer Rexam in a cash and stock deal...
Amtek confirms acquisition of Rege Holding GmbH using subsidiary JMT Auto
Amtek Auto Ltd, the Arvind Dham-led automotive component supplier is routing the acquisition of Germany-based Rege Holding GmbH (Rege) through its public listed subsidiary JMT Auto. Jamshedpur-based JMT Auto through its Singapore-based special purpose vehicle (SPV) has acquired Rege for an...
Laminazione Sottile Group to acquire Lamp Ariflex
Laminazione Sottile Group, based in Naples, announces the agreement for the acquisition of Lamp Ariflex, company located in Spinetta Marengo (AL) and specialised in the production of flexible packaging. The company’s new name is IPS Ariflex (Industrial Packaging Solutions Ariflex). Laminazione...
Vedanta confirms no change in swap ratio despite stock price fall
Vedanta Ltd has said it stands by the share swap ratio, proposed as part of the plan to merge Cairn India Ltd with itself, despite a near 30% fall in the share of Vedanta since the merger was announced last month. “Swap ratio is not only based on the market prices of the shares but it also take...
Alcoa realigns downstream portfolio to drive greater profitability as transformation continues
Lightweight and high performance metals leader Alcoa today announced a realignment of its downstream segment as the Company’s value-add portfolio expands. Alcoa’s downstream portfolio will become two segments, one with a core focus on aerospace, and the other centered on the construction and...
Ball's £4.3bn takeover of can maker Rexam probed by EU
The EU's competition regulator has opened an in-depth probe into the proposed takeover of Rexam, the British maker of beverage cans, by US peer Ball Corporation in an offer worth £4.3bn. In a statement, the European Commission, the EU's executive body, said it had concerns that the proposed...
Management Buyout at LA Metals
The management team at Smethwick aluminium extrusion company LA Metals has bought out the company's founding partners. The management buyout (MBO) was led by managing director Joe Mullally and sales director Andy Wolliscroft and supported by a commercial finance package from NatWest Structured...
Oyak to acquire alumina supplier Almatis
Almatis, a leading global supplier of premium alumina for the refractory, ceramic and polishing industries, has announced that its shareholders, including majority owner Dubai International Capital (DIC), have signed an agreement to sell the Group to Oyak, Turkey's largest private pension fund....
Fives acquires ECL, a specialist in the design and installation of equipment for primary aluminium production
Fives announces the acquisition of ECL, a specialist in the design and installation of equipment used to produce primary aluminium. ECL will become a new entity within Fives and bring a high level of complementary technical strengths and sales strategies. Founded in 1947, and became a subsidiary of...
Mubadala in joint venture with Trafigura to operate Spanish mines
Mubadala Development has bought a 50 per cent stake in a base metals mining interest held by the global trading house Trafigura as part of plans to expand its mining footprint. The Abu Dhabi investment fund will form a 50-50 joint venture with Trafigura to operate Minas de Aguas Tenidas (Matsa),...
Total Merchant Ltd. to purchase Metalico
The board of directors for Cranford, New Jersey-based Metalico Inc., which operates scrap metal recycling facilities primarily in the eastern Great Lakes corridor, has agreed to sell the company to Total Merchant Ltd. for a total purchase price of approximately $87 million. According to a news...
EU regulators to decide by July 20 on Ball's $6.9 bln Rexam bid
European Union market competition regulators are set to decide by July 20 whether to approve the 4.4 billion-pound ($6.9 billion) merger deal between Ball Corp and Rexam Plc, the world's two largest makers of drinks cans. The companies sought approval for the deal on Tuesday, according to a filing...
Vedanta Group announces merger of Vedanta Limited and Cairn India Limited
Vedanta Limited, Cairn India Limited ("Cairn India") and Vedanta Resources plc ("Vedanta plc" together with its subsidiaries, the "Group"), today announce a merger between Vedanta Limited and Cairn India (the "Transaction"). Key Highlights • Minority shareholders of Cairn India will receive for...
Hind Aluminium Industries Ltd reduces stake in Oman subsidiary
Hind Aluminium Industries Ltd has introduced an overseas Joint venture partner for its subsidiary Company Associated Industries Limited SFZ ("AIL SFZ"), incorporated in the Sultanate of Oman. Due to the above, AlL SFZ will become an Associate / Joint Venture Company of Hind, with a reduced...
Emerging markets fund Lambasa backs Ashapura Minechem's acquisition of Orient Abrasives
Mumbai-based mineral producer and exporter Ashapura Minechem Ltd has joined hands with emerging markets-focused private investment firm Lambasa Global to jointly acquire Orient Abrasives Ltd from the promoters for about INR 90 crore (approximately $14 million), according to a stock market...
Vedanta signals potential merger of Indian units in restructuring effort
Oil and metals producer Vedanta Resources Plc (VED.L) signalled on Tuesday it is considering a merger of two or more of its Indian subsidiaries, which could provide the debt-burdened units access to cash from other operations. In a statement which disclosed the possibility of a merger of its...
