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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Instacom buying 35% stake of Neata Aluminium for RM58.8m
Instacom Group Bhd has made an offer to buy a 35% stake of Neata Aluminium (Malaysia) Sdn Bhd for RM58mil in an all-share deal as it diversifies into aluminium design and fabrication. Instacom said on Thursday it had signed a conditional share sale agreement with Ooi Eng Kean, Nor Mohd Amin...
Orkla puts up 83 percent shares of Granges for public offering
Granges, the Swedish aluminium subsidiary of the Norwegian company Orkla, has been put up for public offering by the parent company. The initial offer for it has been tagged at an amount between 3.1 billion and 3.7 billion Swedish crowns ($426-508 million). Orkla has been shedding off its metal...
XinRen Aluminum unit buys stake in Xinjiang coal mine for 88.6m yuan
ALUMINIUM producer XinRen Aluminum Holdings on Monday said its 51 per cent owned subsidiary, Xinjiang Plant, has acquired 55 per cent of Xinjiang Tianfu for 88.6 million yuan (S$18.3 million). Xinjiang Tianfu, which owns an "ultra-large, modern coal mine in the coal-rich Xinjiang Province", will...
Solvay acquires Germany's Flux to bolster aluminum brazing formulations
Solvay has acquired Flux Schweib- und Lotstoffe GmbH (Flux) to complement its aluminum brazing capabilities and products with fast-growing formulations for automotive heat exchangers and stationary heat, ventilation and air conditioning units. “A flourishing and innovative German company, Flux will...
Cape Alumina recommends MetroCoal takeover offer
Cape Alumina directors have recommended that shareholders accept MetroCoal’s off-market takeover bid of 1 MTE share for every 1.3 CBX shares, in the absence of a superior proposal. The offer represents a 35% premium to the 20 day VWAP for each Cape share and the independent expert has concluded is...
Aditya Birla Chemical at new high, buys Jayshree Chem's CAD
Aditya Birla Chemicals India (ABCIL) shares became very popular with the investors on Tuesday when the company took the decision of buying the chlor-alkali division (CAD) of Jayshree Chemicals. The shares gained 7.5% to a record high of INR 313 on BSE. The new acquisition will expand the companies...
Amcor eyes $3 billion in acquisitions
Five years after its transformational $1.9 billion acquisition of Alcan's packaging assets, Amcor is eyeing potential acquisitions worth $3 billion as the global packaging giant seeks further growth in both emerging and developed markets. Amcor chief executive Ken MacKenzie said the pipeline for...
BHP Billiton set to demerge aluminium, bauxite and nickel assets
Investors have welcomed news that mining giant BHP Billiton appears set to establish a separate $20bn company comprising its aluminium, bauxite and nickel assets. The global mining giant issued a statement on Friday saying a demerger of assets is its preferred option after announcing in April that...
Rusal mulls selling assets in Nigeria, Kazakhstan: analyst
Rusal, the world's largest aluminium producer, is considering selling about $1 billion worth of non-core assets, including its foil business in Russia, BCS financial group analysts said. Other assets that could be sold include stakes in the Alscon aluminium smelter in Nigeria and the Bogatyr coal...
Aluminium Services UK Limited acquired by Reliance Steel & Aluminum
Reliance Steel & Aluminum Co. announced that, effective August 1, 2014, it has acquired all of the capital stock of Aluminium Services UK Limited, the holding company parent of All Metal Services ("AMS"), the world's largest independent raw material service provider to the aerospace and defense...
Cape Alumina receives proposal for control transaction
Cape Alumina's shares are in pre-open this morning, following the ASX granting the company a trading halt. CBX requested the halt after it received a proposal in relation to a control transaction from the company’s major shareholder, MetroCoal. MetroCoal currently owns 57%, with China Xinfa Group...
AMG divests non-core equity interest in Bostlan S.A.
AMG Advanced Metallurgical Group N.V. announces that AMG Aluminum has sold its 25% equity interest in Bostlan S.A. ("Bostlan") to Bostlan's majority shareholders for cash. This is the next step in AMG Aluminum's strategy to divest non-core assets, reposition its global operations, and streamline...
Newell Recycling and Blaze Recycling merge
Newell Recycling of Georgia LLC, headquartered in East Point, Georgia, has entered into a definitive merger agreement with the scrap metal recycling firm Blaze Recycling & Metals LLC, Norcross, Georgia. The combined company will be called Newell Recycling Southeast. The deal is subject to customary...
Scholz completes sale of aluminum, stainless steel business
The Scholz Holding GmbH has announced the sale of its aluminum and stainless steel business. The scrap metal company, based in Essingen, Germany, had earlier announced plans to sell off the businesses that it considered noncore assets as a step in the process to realign and restructure the company....
GE puts Worsley Alumina power plant on market
General Electric is believed to be fielding approaches from major infrastructure investors interested in buying its $1.2 billion Worsley Alumina power plant, following plans by the conglomerate to float the West Australian asset on the Australian Securities Exchange. The interest from groups —...
Rheinmetall forms new JV with China's Hasco
Rheinmetall will shift a unit making aluminium engine blocks to a joint venture with China's Hasco to help finance growth at its automotive business, the German defence group said on Tuesday. Duesseldorf-based Rheinmetall said KS Aluminium-Technologie GmbH and Hasco, which is majority-owned by...
Govt appoints two firms to manage Balco stake sale
The Union finance ministry’s department of disinvestment has appointed independent valuation firm American Appraisal Associates Inc. and merchant banking firm Resurgent India to manage the government sale of its stake in Bharat Aluminium Co. Ltd (Balco), American Appraisal said in a press...
Tecnoglass acquires assets of RC Aluminum Industries
Tecnoglass, Inc. ( TGLS ) announced that it has acquired selected assets of RC Aluminum Industries, Inc. Terms of the transaction were not disclosed. Tecnoglass stated that among the assets acquired are approximately $70 million in RC Aluminum backlog for high-rise projects in south Florida, all of...
