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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Amtek India acquires Germany's Kuepper Group
Amtek India is acquiring substantial stake in Germany based Kuepper Group for an undisclosed amount , the company said in a filing with BSE. However a piece in ET states the acquisition price to be at EUR 200 Mn. The company would be floating an SPV for the purchase and financing will be through...
Jiaozuo Wanfang to buy 20% interest in China Rare Metals at a 25.2% premium
Jiaozuo Wanfang Aluminium Manufacturing Co. plans to pay 389.3 million yuan ($63.6 million) to buy a 20% interest in China Rare Metals and Rare Earth Co., part of Aluminum Corporation of China (CHINALCO). Jiaozuo Wanfang, which itself is a subsidiary of Aluminum Corporation of China Ltd. (Chalco),...
Amtek Auto buys Germany's Kuepper group of companies for 200 million euros
Amtek Auto has signed an agreement to buy Germany's Kuepper group of companies for about 200 million euros in its second big European acquisition in 2013. The deal, which is likely to be announced in a few days and will add clients like BMW, Daimler and Volkswagen and increase its consolidated...
Ormet continues to sell materials
A purchase order shows Libertas Copper will pay about $3 million for approximately 430 metric tons of copper rods from bankrupt aluminum producer Ormet Corp., while the sale of Ormet's former Burnside, La. alumina refinery to Almatis Inc. is complete. The company continues selling the raw materials...
Ormet starts selling off machines, raw materials
Ormet Corp. plans to auction equipment and raw materials used in the aluminum smelting process at 10 a.m. today, according to records in the U.S. District Bankruptcy Court in Delaware. Ormet closed the Hannibal aluminum smelter in October amid high utility costs and low global metal prices. CEO...
Trimet completes purchase of Rio Tinto plants
Trimet Aluminum AG has taken control of two former Rio Tinto Alcan Inc. production plants in France. The Essen, Germany-based aluminum producer said Dec. 16 that the move came after it received regulatory approval for a deal signed in July. The plants—in Saint-Jean-de-Maurienne and Castelsarrasin,...
Private firm set to take over alind
A private player is all set to take over the Aluminium Industries Limited (Alind) here. The factory that sustained a 15-year shutdown saw a ray of hope when present MP N. Peethambara Kurup inaugurated its renovation work about four months ago. The corporation that was owned and operated by a board...
EC clears Rio Tinto Alcan's sale of French aluminium plants
The European Commission said Friday it has approved Rio Tinto Alcan's planned sale of aluminium plants in France. "The European Commission has approved under the EU Merger Regulation the acquisition of joint control over two aluminium production facilities located in France of the Rio Tinto Alcan...
German company buys Burnside alumina refinery
Almatis, a German company, has purchased a Burnside alumina refinery out of bankruptcy. Details of Almatis’ purchase of the refinery, which had been owned by Ormet Corp., were not disclosed. But in November, a U.S. bankruptcy court judge in Delaware approved Almatis’ $39 million bid to buy the...
CFAC a boneyard for Sebree
A Midwest aluminum smelter that was prominent news in Columbia Falls 40 years ago is back in the news today. And a possible pattern is emerging — a giant parent company favoring one plant over another. Alcoa was hired to build the Sebree smelter for Anaconda using cutting-edge smelting equipment,...
Sapa Heat Transfer renamed Gränges
A venerable brand is resurrected when Sapa Heat Transfer changes its name to Gränges. As part of the restructuring of the Sapa Group, the business area that manufactures rolled aluminium material for the global heat exchanger industry becomes a separate company with its own brand. The new Gränges...
Former Metro International Trade Services owner set for return to LME network
Bill Whelan, the Michigan-based mastermind behind the creation and sale of one of the world's biggest metals warehousing firms, is making a comeback, seeking to rejoin the London Metal Exchange network as new rules roil the storage business. Three years after leading the sale of Detroit-based Metro...
Aditya Birla Group plans to hike stake in Hindalco
Home-grown conglomerate Aditya Birla Group aims to hike stake in group companies. CNBC-TV18 learns from sources the AB Group may spend Rs 6,000 crore for stake hike. It is looking to hike stake in Hindalco and Grasim to 40-45 percent. As of June 30, 2013, promoters' holding in Hindalco stood at 33...
Indonesian government finalizes takeover of Inalum smelter
November 2013 marks a milestone in the history of Indonesia’s resources industry as the Indonesian government is finalizing the takeover of Inalum, the only aluminum smelter that exists both in Indonesia and Southeast Asia, from its long-time partner, Nippon Asahan Aluminum (NAA). Producing...
Viohalco completes merger with Aluminium Industry SA and Cofidin SA
Belgian company Viohalco SA/NV announces that the cross-border and domestic merger proceedings with, respectively, Viohalco Hellenic Copper and Aluminium Industry SA and Cofidin SA have been approved by the shareholders' meetings of the merging companies and took effect on 16 November 2013. The...
Can-One Bhd worth more than market value
Can-One Bhd, which once hogged the limelight when it battled to acquire the 32.9% stake in Kian Joo Can Factory Bhd from the See family, probably warrants investors taking a second look at this packaging company. Being the single largest shareholder, Can-One’s investment is riding high on the rally...
Trafigura outbids Glencore for Ormet’s alumina
Trafigura has outbid Glencore Xstrata in an auction for 32,000 tonnes of alumina offered for sale by bankrupt aluminium producer Ormet. Switzerland-based Trafigura and Ohio-based Ormet agreed to a purchase price of nearly $9 million, or $281 per tonne, according to a sales contract signed by...
Nampak’s trading income for Africa increases 60%
Outgoing Nampak CEO Andrew Marshall said on Thursday that he had achieved his vision to cement Nampak in the African continent. Mr Marshall is to retire in March next year. Speaking about the group’s financial results for the year to December, which were released on Thursday, Mr Marshall said...
