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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Balco stake sale gets nod
The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved residual stake sale by the government in Vedanta-owned Bharat Aluminium Company (Balco). The move could fetch about Rs 3,000 crore to the exchequer at a time when the finance ministry is trying hard to contain the Centre's...
Balco, HZL stake sale may happen only next fiscal
The government's plan to sell its residual stake in Hindustan ZincBSE 0.48 % (HZL) and Bharat Aluminium Company (Balco) may be pushed to next fiscal if the mines ministry continues to dither on the processes for stake sale due to ongoing investigations . Last week, an inter-ministerial group...
Press Metal sells 20% stake in Press Metal Bintulu to Summit Global Management
Press Metal Bhd is selling 20% of its stake in Press Metal Bintulu Sdn Bhd to Summit Global Management XII. SGM is a 70 per cent owned subsidiary of Sumitomo Corporation. Press Metal reported that the proposed sale of shares will provide an opportunity to realize the value of its investment in...
Can-maker Rexam plc acquires stake in Magnaparva Packaging
Rexam plc today announced the acquisition of an equity stake in Magnaparva Packaging, a part of UK-based engineering group Magna Parva, to help develop new technological solutions for its beverage can-making process. Rexam didn’t disclose the value of its investment or the size of the stake...
Aleris to aquire Nichols Aluminum from Quanex
Quanex Building Products Corp. announced Monday that it has agreed to sell its interest in Nichols Aluminum, LLC, to downstream aluminum processor Aleris for $110 million in an all-cash transaction. The acquisition of Nichols, a wholly owned subsidiary of Houston-based Quanex, includes two...
FinnvedenBulten to sell the division's Swedish aluminium business
FinnvedenBulten has, as part of the ongoing restructuring of the foundry business in the Finnveden Metal Structures division, signed an agreement to sell the division's Swedish aluminium business in Finnveden Gjutal AB. The buyer is International Aluminium Casting Sweden AB, which operates with...
Sapa Profiles eyes acquisitions
Even as it is doubling production at its Kuppam unit, Sapa Profiles India, a leading global manufacturer of aluminium extrusions, is actively scouting for acquisition opportunities in the country. The company is looking to buy firms engaged in the aluminium extrusion business in the northern and...
Zibao Metals Recycling gets a listing on Aim
Hong Kong’s Zibao Metals Recycling Holdings trades mainly in aluminium, imports them from different international sources before they can resell them into People’s Republic of China. ZAI is its broker and it is raising about £2million in Hong Kong and Britain. Over the last 3 years it has trebled...
ThyssenKrupp acquires aerospace operations of Alimex Metals
ThyssenKrupp Aerospace will continue with the business of Alimex, to distribute and process aluminum mill products (sheet, rod, plate) for aviation industry. All inventories and customer networks will be transferred to ThyssenKrupp Aerospace. Alimex has planned to completely withdraw from aerospace...
Rochester Aluminum adds a third furnace to Greenway's operations
Rochester Aluminum Smelting Canada Ltd., has acquired aluminum scrap rotary furnace operator Greenway Industries Corp., Concord., Ontario, Canada. Rochester Aluminum, also based in Concord, produces aluminum casting alloys, primary and secondary aluminum shot, granules, cones, pyramids and...
Montenegro introduces tender for bankrupt KAP aluminium plant
Montenegro on Saturday launched a tender to sell the partially state-owned KAP aluminium plant, its biggest industrial employer, which has been declared bankrupt, an official said. The country hopes to get at least 28 million euros ($38 million) for the Aluminium Company Podgorica (KAP) and its...
Rusal to settle terms with Sual Partners Ltd
The Rusal board on January 15 approved the terms for a settlement in the arbitration proceedings filed by Len Blavatnik and Viktor Vekselberg’s Sual Partners Ltd against Glencore International AG, En+ Group Limited, the company and Oleg Deripaska, Rusal said in a statement. Contracts signed between...
UACJ Corporation completes acquisition of all shares in Hydro Aluminium Malaysia Sdn. Bhd.
UACJ Corporation issued a press release on October 30, 2013, entitled "Notice of Change of Sub-subsidiary (Through Acquisition of Shares) regarding UACJ Foil Corporation, which is a wholly owned subsidiary of UACJ. UACJ hereby provides notice that the acquisition of shares was conducted as...
Minfa Aluminium plans to Buy 10mn shares in bank of Quanzhou
Fujian Minfa Aluminium announces that it plans to buy 10 million shares in Bank of Quanzhou with CNY 30 million, representing 0.41% of capital stock after the issuance. Bank of Quanzhou grew total assets to CNY 31.60 billion by December 31, 2012; main business incomes were CNY 1.47 billion, gross...
Four Companies make a bid for the aluminium producer KAP
On Friday a court said four companies have bid to purchase various assets of bankrupt KAP aluminium plant of Montenegro. The Balkan country is making every attempt to unburden one of the important exporters who had to face a huge number of losses. The bankruptcy management officials at Kombinat...
Public Investment Bank – The new advisor to Press Metal’s shareholders
Press Metal Bhd has named Public Investment Bank Bhd as independent adviser to non-interested directors and shareholders on a proposed exemption sought by its major shareholder Alpha Milestone Sdn Bhd (AMSB) and persons acting-in-concert (PACs) from the Securities Commission (SC) to overtake the...
Residual stake sale in Balco gets Law Ministry’s nod
The decks have been cleared for selling the Government’s remaining stake in aluminium major Balco with the Law Ministry giving its nod to the proposal. The stake sale is expected to generate up to Rs 4,000 crore in the current fiscal. A note prepared by the Law Ministry, seen by Business Line,...
Showa Denko Group to acquire aluminum can maker in Vietnam
Showa Denko and its wholly owned subsidiary Showa Aluminum Can Corporation (SAC) have reached agreement with major shareholders of Rexam-Hanacans Joint Stock Company (Hanacans), of Vietnam, to acquire 91.75% of shares in the company. Hanacans is manufacturing and selling aluminum beverage cans in...
