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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Aluminum Sector to Lead M&A in Chinese Nonferrous Metals Industry
The Chinese aluminum sector will take a leading position in mergers and acquisitions in domestic nonferrous metals industry in the future, Securities Daily reported today. From January to 13 May, 22 M&A deals, valued at 23.35 billion yuan ($3.8 billion), were made in domestic non-ferrous metals...
BHP Billiton creates new company for its aluminium section
BHP Billiton, leading global resources company as a part of its internal business reformation created a new aluminium firm through the Australian securities regulator. The creation mainly comes as a part of BHP’s board and management decision to spin off the noncore asset into new firm worth $20...
MetroCoal ends Cape Alumina offer with majority stake
ASX-listed MetroCoal’s takeover offer for fellow-listed Cape Alumina closed on Tuesday, with the company gaining a 57.22% shareholding in the takeover target. MetroCoal launched its takeover of Cape Alumina in March, offering shareholders 0.6c a share in cash. The offer was accepted by some of Cape...
MetroCoal increases stake in Cape Alumina to 57.22%
Australian coal-based energy firm MetroCoal has increased its stake in Cape Alumina from 46.04% to 57.22%. As per the offer made on 18 March 2014, the company has purchased 27,136,354 shares of Cape Alumina for 0.6 cents per share. MetroCoal is seeking to review Capes operations and merge the...
Aleris considering sale of recycling businesses
US-based aluminium rolled and extruded product giant Aleris is 'formally evaluating the potential sale of its recycling and specification alloys businesses'. Chairman and ceo Steve Demetriou comments in a statement: 'While the businesses remain steady and profitable with excellent long-term growth...
Georgia Profile Extrusion Company’s aluminum extrusion assets acquired by Highlander
Highlander Partners, L.P., today announced it has acquired the aluminum extrusion assets of Profile Extrusion Company located in Rome, Georgia. The operations will continue to operate from the Georgia location under the name of Profile Custom Extrusions, LLC ("PCE") with the current management team...
Aleris considers potential sale of recycling and custom alloy unit
Beachwood-based aluminum product maker Aleris Corp. said it is “formally evaluating the potential sale” of its Recycling and Specification Alloys businesses. "While the businesses remain steady and profitable with excellent long-term growth potential, we are always reviewing our operations to...
Hydro agrees to sell aluminium casthouse in Hannover
Hydro has entered into a binding agreement to sell its special alloy aluminium casthouse in Hannover to IQ Industrial Holding S.à r.l. (Luxembourg), a private industrial holding group with operations across Europe. The Hannover casthouse is focused on special aluminium alloys, mainly hard alloys...
RHB Research maintains Buy on Press Metal
RHB Research has maintained its Buy call on Press Metal with a fair value of RM4.11, it said on Monday. RHB Researh said while both the group’s smelters are now in full production mode, it expects the group earnings to surge 87.7%/29% in FY14/FY15. It said aluminium prices jumped 10.5% in the last...
Chalieco debuts in offshore bond market with perpetual securities
China Aluminum International Engineering Corporation (Chalieco) on February 21 priced its perpetual securities amounting to US$300 million with a unique structure that helped generate sufficient investor demand. The Reg S deal has an initial distribution rate of 6.875%. The first call date is at...
Aleris completes deal for Nichols Aluminum
The aluminum producer Aleris, headquartered in Cleveland, has completed its acquisition of Nichols Aluminum LLC, a producer of aluminum sheet for the transportation, building and construction, machinery and equipment, consumer durables, and electrical industries in North America. In making the...
Emirates Global Aluminium to account for half of GCC output
Emirates Global Aluminium has been officially incorporated, creating an entity accounting for 50 per cent of total GCC aluminium output. Mubadala Development and the Investment Corporation of Dubai announced yesterday the completion of the deal to merge their two aluminium assets into one...
Ducab concludes 2013 with 22% growth in sales
Ducab, the Middle East's leading manufacturer of high quality cables and cabling products, has announced its annual results for 2013. Building on strong demand locally and abroad, Ducab sales revenues have grown to AED 5 billion, marking an increase of 22% per cent over 2012 sales. Growth was...
XinRen to increase stake in aluminum smelter for 3.15 bn yuan
XinRen Aluminum Holdings, the China based firm has agreed to raise their stake in aluminum smelter from 21% to 51% for 3.15 bn yuan. XinRen talked about their decision to use its option of raising its stake in Xinjiang Production, the leading International Group in China and Construction Corps...
Sapa acquires UK-based aluminium components company
Sapa is strengthening its range of advanced aluminium solutions with the acquisition of UK-based Holden Aluminium Technologies Ltd. Sapa has taken over the operation with effect from April 1, 2014. Holden’s aluminium extrusion fabrication plant is located in Bromyard, England, and employs...
Ohio-based Aleris purchases Nichols Aluminum that operates Decatur plant
Ohio-based Aleris announced today it has purchased Nichols Aluminum, which operates a facility in Decatur, from Quanex Building Productions for $110 million cash. Nichols Aluminum, a wholly-owned subsidiary, produces aluminum sheets on Alabama 20 in Decatur and at production facilities in...
MetroCoal says offer price for Cape Alumina final
As Cape Alumina advises its shareholders to reject a 0.6c-a-share takeover offer, suitor MetroCoal warned on Wednesday that it would not increase its bidding price. Cape Alumina said the price was significantly lower than share prices prior to the offer being made, and that it failed to attribute...
Turkey's Sahinler interested in cooperation with Montenegrin aluminium firm KAP
Turkish metal products manufacturer Sahinler is interested in buying out the complete annual production of Montenegro's bankrupt aluminium firm KAP and could become a partner of Niksic-based Uniprom – the sole bidder for KAP's assets, Portalanalitika.me informed on March 28, quoting a report of...
