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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MetroCoal bids for rest of Cape Alumina as stake exceeds 90%
ASX-listed MetroCoal has made strides in its takeover of fellow-listed Cape Alumina, after major shareholder China Xinfa Group Corporation accepted MetroCoal’s offer for its 12.1% shareholding. MetroCoal’s total shareholding in Cape Alumina now exceeded 90%, and the company said on Monday that it...
Investors put pressure on Rio Tinto to distribute excess capital
Rio Tinto is under pressure to deliver on the CEO’s promise to become a "cash machine" for investors as it justifies snubbing a merger approach from Glencore. With Glencore effectively barred from making a renewed bid until April, Rio has a window to woo shareholders through stock buybacks and...
France’s Imerys to absorb Greek’s S&B Minerals, excluding bauxite operations
Imerys, a world leading industrial minerals company has signed an absorption deal on Thursday, for the Greek company called S&B Industrial Minerals. The deal is supposedly one of the biggest international mergers in the history of Greek industry. The deal is said to be worth 558 million euros...
Aleris reports update on Recycling and Specification Alloy Business
Aleris Corporation reported results for the three and nine months ended September 30, 2014. The company updates the following about their Recycling and Specification Alloy Business: Recycling and Specification Alloys North America ("RSAA") RSAA's segment income and segment Adjusted EBITDA increased...
Aldora aluminum acquires Florida-based Peterson Industries
Aldora Aluminum & Glass acquired the assets of Peterson Industries Inc., a Florida-based manufacturer of framed and frameless shower doors, mirror doors, closet doors and glass enclosures, according to an announcement from Superior Capital Partners LLC, a Detroit-based private equity firm, and...
Sapa sells paint operation in Finland
Sapa has sold its painting and aluminium fabrication operation in Finland to Salko Painting Oy. The sale of the Forssa-based plant is part of the restructuring within Sapa’s aluminium extrusion operations in the Nordic countries, following the merger of Sapa’s and Hydro’s extrusion activities in...
Norsk Hydro: Hydro and RTA closes Søral deal
Aluminium company Hydro and Rio Tinto Alcan (RTA) have closed the deal for Hydro to take over RTA's shares in the aluminium smelter Sør-Norge Aluminium AS (Søral) in Norway. Hydro and RTA announced the plans for Hydro to take over Søral in July. Following approval from competition authorities in...
Norsk Hydro: Hydro and RTA closes Søral deal
Aluminium company Hydro and Rio Tinto Alcan (RTA) have closed the deal for Hydro to take over RTA's shares in the aluminium smelter Sør-Norge Aluminium AS (Søral) in Norway. Hydro and RTA announced the plans for Hydro to take over Søral in July. Following approval from competition authorities in...
Century Aluminum CEO says no timetable for Ravenswood restart
Century Aluminum's idled Ravenswood, West Virginia plant isn't likely to come out of mothballs in 2014. During the company's third quarter conference call Oct. 29, CEO Mike Bless told analysts the company is still working on the power agreements that would enable them to restart the plant,...
Alcoa to sell ownership stake in Mt. Holly Smelter to Century Aluminum
Alcoa today announced that it has reached an agreement to sell its ownership stake in the Mt. Holly aluminum smelter in Goose Creek, South Carolina, to Century Aluminum Company for $67.5 million in cash, plus an additional potential earn-out. Mt. Holly is owned 50.3 percent by Alcoa and 49.7...
Singapore-listed Triyards acquires aluminium shipbuilding company
Mainboard-listed Triyards Holdings, an offshore vessel fabrication and engineering solutions provider to the oil and gas industry, said it has added new capabilities, products and clients with its A$23.3 million (S$25.97 million) acquisition of shipbuilding and fabrication companies, Strategic...
Aleris to sell its recycling and specification alloy businesses to Signature Group Holdings
Aleris announced today that it has signed a definitive agreement to sell its North American and European Recycling and Specification Alloys businesses to an affiliate of Signature Group Holdings. The sale includes 18 production facilities in North America and six in Europe. The facilities offer a...
Alcoa to pay $US 56 million to Alumina Limited for exiting Jamalco project
Alcoa World Alumina and Chemicals (AWAC), which is a joint venture between Alcoa and Alumina Limited, has been handing out dividends from its passive share. However, now with the sale of its share in the uneconomical Jamaica refinery, Alumina is slated to receive a handy cheque from Alcoa. The sale...
Alcoa to sell stake in Jamalco to Noble
Alcoa and Noble Group Ltd today announced the signing of a definitive agreement that will result in Alcoa World Alumina and Chemicals (AWAC) selling 100 percent of its ownership stake in the Jamalco bauxite mining and alumina refining joint venture to Noble for $140 million. AWAC will continue as...
Alcoa’s strategic approach brings success in aluminium production
Alcoa reports a good performance in the upstream sector as well with strategic planning. They have cut down their production by 28 percent or 1.2 million metric tons since 2007 to increase the competition in the global aluminium market. In the third quarter, the company has successfully closed the...
Rio Tinto issues statement regarding Glencore merger speculation
Rio Tinto issues a statement regarding the recent press speculation regarding a possible combination of Rio Tinto and Glencore. The Rio Tinto board confirms that no discussions are taking place with Glencore. In July 2014, Glencore contacted Rio Tinto regarding a potential merger of Rio Tinto and...
China Aluminium Cans plans to buy company owned by chairman
Aluminium aerosol cans producer China Aluminium Cans plans to buy a company involved in content filling of the cans from its chairman and controlling shareholder for HK$900 million. China Aluminium Cans said in a stock exchange statement that HK$120 million of the amount will be paid in cash, while...
Constellium reaches agreement to acquire Wise Metals
• $1.4 billion acquisition - $455 million in cash and $945 million in assumption of debt • Plans to increase Wise’s current 450 kt of hot mill capacity to over 700 kt and build 200 kt of dedicated BiW finishing capacity • Up to $750 million investment by Constellium expected by 2022 to support...
