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...
Grow with
AL Circle
Odisha to sign fresh MoU with Sesa Sterlite
The Odisha government is taking steps to sign a fresh Memorandum of Understanding (MoU) with Sesa Sterlite Ltd, after the merger of Vedanta Aluminium Ltd (VAL) with it. The move comes after the state law department advised the industries department to substitute the earlier MoU with a fresh one...
Metrocoal takeover of Cape Alumina gains steam
MetroCoal has acquired a strategic 46.04% interest in Cape Alumina through the purchase of 95,059,489 shares priced at $0.006 each under the former’s takeover offer. The two companies had previously shelved a proposed merger in November last year. MetroCoal’s unconditional cash offer is targeted at...
Amtek Auto shares up 8.58% as company announces 25% dividend
Delhi-head quartered auto components major Amtek Auto has announced a 25% dividend for its shareholders at the AGM held on Monday. In a notification to the stock markets, Amtek Auto informed that the board declared "a dividend Rs 0.50 per equity share of face value Rs 2 each." The AGM also saw the...
Amtek India jumps nearly 26% in two sessions
Amtek India rose 4.65% to Rs 81.10 at 15:16 IST on BSE, extending Tuesday's 10% rise triggered by the company announcing acquisition of Germany-based Kuepper Group. The announcement was made after market hours on Friday, 14 March 2014. The stock market was closed on Monday, 17 March 2014, on...
Press Metal chairman sells 430,000 company shares
Chairman of Press Metal Bhd Datuk Megat Abdul Rahman Megat Ahmad has sold a major part of his stake in the company. He sold 430,000 direct and indirect shares, at a price between RM2.28 and RM2.30 each, from 4th to 13th March. Press Metal Bhd owns aluminium smelting plants in Mukah and Samalaju...
Amtek India successfully acquires Kuepper Group Germany
Amtek India Ltd has completed successfully the transaction and has acquired the Kuepper Group engaged in the business of Iron, Aluminium Casting & Integrated Machining. They have five manufacturing facilities across Hungary and Germany. The company acquired substantial interest of Kuepper,a Germany...
MetroCoal offers to bid for bauxite explorer Cape Alumina in Queensland
MetroCoal has made an uninvited offer to take over their fellow exploration company in Queensland Cape Alumina at $0.06 per share. The board of Cape Alumina has advised the shareholders not to take any action. MetroCoal said they want to acquire Cape Alumina with the aim to expose its shareholders...
Sapa completes divestment of MPE business in Harderwijk
Sapa has completed the divestment of its multi-port extrusion business in Harderwijk, Netherlands, to Standard Investment. The sale agreement, signed on December 20, 2013, has been formally approved by the European Commission. The transaction was completed on February 20. The divestment of the...
Malaysian aluminium can maker gets offer from new suitor Toyota Tsusho
Japan's Toyota Tsusho Corp has made an offer to purchase 51 percent of Malaysia's Kian Joo Can Factory Bhd, bidding more on a per share basis than a rival Malaysian firm and sending Kian Joo's stock soaring. The trading arm of the Toyota Group is offering 3.74 ringgit per share for the stake in the...
Upstate Shredding acquires the assets of an auto recycling company
Owego, N.Y based Upstate Shredding, has announced the acquisition of Brant Auto Parts’ assets. Brant Auto Parts, located in Irving, N.Y. was founded in the year 2003, has been serving Hamburg, Buffalo and Dunkirk, N.Y. and also the surrounding areas for a period of more than ten years. The company...
XinRen finalizes the deal of loss-making smelting plant
XinRen Aluminium Holdings said it has finalized the deal of selling its loss-making smelting plant for 400 million yuan. Changjiang Aluminum is the owner of 130,000 tonnes per annum (tpa) primary smelting facility in Yichang of Hubei Province (Yichang Plant). The group is also planning to use the...
Integrated aluminium producer model will be challenged over the next few years: Alumina Ltd
The integrated aluminium producer model will be challenged over the next couple of years, leading to a shake-up in corporate structures, an executive at Alumina Ltd said. These changes could take a variety of forms, Andrew Wood told Metal Bulletin's 20th Bauxite and Alumina conference in Miami....
SAPA decides to shut down its precision tubing plant in HANOVER
Aluminum producer Sapa wants to close its precision tubing plant located in Hanover, Germany. Since their agreement with Norsk Hydro in 2012 , SAPA has worked on various restructurings as well as asset sales, to combine their downstream operations. In order to get a good hold over the market, the...
Montenegro's Uniprom offers to buy aluminium firm KAP's assets
Montenegrin privately-held metals trader Uniprom has filed the sole bid in the second tender for the sale of bankrupt aluminium firm KAP's assets, offering to pay the starting price of EUR 28mn, daily Vijesti reported on Feb 20. The offered price was somewhat lower than the EUR 28.5mn Uniprom...
Ormet is looking to sell smelter
Several months after shuttering its local plant and almost one full year since it filed for bankruptcy, Ormet Corp. has announced the smelter plant and surrounding property - including land on which natural gas currently is being produced - is up for sale. The company, in noting the plant's assets...
Hero Group’s auto component firm Rockman to buy majority stake in Sargam Diecastings
Rockman Industries Ltd, a part of Hero Group, has entered into a definitive agreement to acquire majority stake in Chennai-based Sargam Diecastings Pvt Ltd from Sargam Metals Pvt Ltd for an undisclosed amount. Through this acquisition, Hero Group will mark its entry in Tamil Nadu. Incorporated in...
Dubal profits increase due to lower manufacturing costs
Dubai Aluminium (Dubal) reported a 13 % yearly increase in their net profit to Dh1.79 billion as technological innovations have lowered manufacturing costs. “Dubal remains one of the most profitable corporations in the Emirate of Dubai,” said Sheikh Hamdan bin Rashid, Deputy Ruler of Dubai, UAE...
Calderys acquires Termorak in Finland
Calderys, a world leader in Refractory Solutions and a subsidiary of Imerys, announces that it acquired Termorak Group, a company specialized in Refractory Services (including lining design, refractory material sourcing, as well as installation work and inspections). With € 17.2 million revenue in...
