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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Real Alloy is new name for former Aleris alloys business
Aleris, a Cleveland-based manufacturer of aluminum rolled products, has announced it has completed the sale of its recycling and specification alloys businesses, which operated as Global Recycling and Specification Alloys (GRSA). The sale has been completed to an affiliate of Signature Group...
Alcoa Completes Acquisition of TITAL
Lightweight, high-performance metals leader Alcoa today announced that it has completed the acquisition of privately held TITAL. Alcoa closed the transaction, which was announced on December 15, 2014, after receiving all of the required global regulatory approvals. TITAL is a leading manufacturer...
Outotec acquires Kempe Engineering's aluminum technology and service businesses in the Middle East and Africa
Outotec has completed the acquisition of Kempe Engineering's aluminum smelter technologies as well as service and spare parts businesses in the Middle East and Africa. The acquisition was announced on January 12, 2015. The parties have agreed not to disclose the acquisition price. The acquisition...
Aleris completes the sale of its extrusions business
Aleris announced today that it has completed the sale of its aluminum extrusions business to Japanese building products and extrusions manufacturer Sankyo Tateyama, Inc. The sale, which was announced in December, includes four production facilities in Europe and one in China. Sankyo Tateyama paid a...
Hydro investing in sorting technology for recycling
To further strengthen its activities in aluminium recycling, Hydro have acquired WMR Recycling GmbH (WMR) in Dormagen, Germany, from Kural GmbH and Kurth Grundstücksverwaltungs UG. Following the transaction, Hydro will own the most advanced aluminium scrap sorting technology in the world. The...
Aleris completes the sale of its recycling and specification alloys businesses
Aleris announced today that it has completed the sale of its Recycling and Specification Alloys businesses to an affiliate of Signature Group Holdings for an aggregate of $500 million in cash and $25 million in Signature preferred stock. The sale, which was announced in October, includes 18...
Ball Corp to buy British drinks can maker Rexam for $6.9 bln
U.S. drinks can maker Ball Corp agreed to buy British rival Rexam Plc in a sweetened 4.43 billion pounds ($6.9 billion) deal, creating an industry giant that can better manage capital spending and costs as aluminium premiums rise. The cash-and-stock deal would merge the world's two largest beverage...
Aleris withdraws IPO citing uncertain economic conditions
The aluminum processor Aleris Corp., based in Cleveland, has withdrawn its $500 million initial public offering (IPO), citing uncertain economic conditions. According to Reuters, the decision to rescind the offer comes three years after the Aleris had earlier sought to sell shares in the company....
Rexam set to back £4.3bn takeover bid
REXAM’S board is keen to finalise a £4.3bn buyout offer from rival can-maker Ball, City A.M. understands. Bosses are thought to see the merger as the next obvious step in building the business, giving the two giants even more scale. UK-based Rexam’s share price has doubled since chief executive...
Private equity-backed aluminum processor Aleris scraps IPO plan
Aluminum processor Aleris Corp IPO-ARS.N filed on Thursday to withdraw its $500 million initial public offering, nearly three years after postponing the listing due to market conditions. Cleveland, Ohio-based Aleris had planned to list 31.3 million shares in a price range of $15 to $17. At the...
Crown Holdings reports higher earnings and positive future prospects
Crown Holdings, a leading producer in global metal packaging products, reported a 31% YoY growth in earnings spurred by the strong demand for beverage cans in developing markets like Turkey and South-East Asia. In its third quarter earnings of 2014, the company reported $1.36 earnings per share...
Ball Corporation in Merger Talks with British aluminum can maker Rexam
Rexam, the British aluminum can maker, said on Thursday that it was in talks to potentially be acquired by Ball Corporation in a deal that would value it at 4.29 billion pounds, or about $6.5 billion. The deal, if consummated, would combine two of the world’s largest makers of beverage cans. Rexam...
Hydro has decided to sell Herøya Industrial Park in Porsgrunn, Norway
The decision is a result of the major changes Hydro has gone through over the last 10-15 years, going from a conglomerate operating in several business sectors to a pure aluminium company with its own significant electric power production. Fertilizer production, which played such an important role...
Dubai to sell off German alumina products maker
Dubai International Capital (DIC) is launching the sale of German alumina products maker Almatis as the fund seeks to reduce its liabilities in the wake of a debt restructuring, three people familiar with the deal said. DIC has mandated Barclays to explore the options of the possible divestment,...
GE Capital aids Constellium for the acquisition of Wise
Constellium NV is to get a $400-million credit facility from GE Capital Corp to help fund the acquisition of Wise Metals Intermediate Holdings LLC. The group treasurer for Constellium, Mark Kirkland says, "GE Capital’s relationship with Wise and understanding of the metals industry made them a...
Upstate Shredding CEO takes large stake in Metalico
Adam Weitsman, CEO of Upstate Shredding, an Owego, New York-based scrap metal processing firm, has purchased roughly 5.6 million shares of stock in Metalico Inc., a Cranford, New Jersey-based scrap metal processing company. With the purchase, Weitsman has a 9.5 percent stake in the company, making...
Aludium launched as Atlas Holdings acquires Alcoa rolling assets in Spain and France
On January 1, 2015, Atlas Holdings LLC launched Aludium — its newest operating company — with the acquisition of rolling mills in Spain and France from Alcoa, a global leader in lightweight metals technology, engineering, and manufacturing. Included in the transaction are mills located in...
NAPCO acquires a new powder-coating system for aluminium extrusions
National Aluminium Products Company SAOG (NAPCO) has announced that in order to meet the growing demand of aluminium-based powder coating systems in the region, they have acquired a new vertical powder coating line. NAPCO is one of the leading manufacturers of aluminium extrusions in GCC and the...
