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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Cape Alumina affected by Queensland decision, MetroCoal merger deal called off
ASX-listed Cape Alumina has halted work on its Pisolite Hills mine and port project, in Queensland, while a proposed merger with MetroCoal has also been called off. Earlier this week, the Queensland government announced plans to declare the Steve Irwin Wildlife Reserve and the Wenlock river on Cape...
Novelis sells North American aluminum foil business to Reynolds
Novelis Inc., the world leader in aluminum rolling and recycling, today announced that it has signed a definitive agreement for the sale of its North American consumer foil products business to Reynolds Consumer Products, Inc. The transaction includes foil manufacturing plants in Toronto, ON, and...
Malaysia’s Press Metal re-opens Mukah aluminium smelter
Malaysian aluminium producer Press Metal Berhad’s 120,000-tpy Mukah smelter has resumed commercial operations, the company announced. Press Metal Sarawak Sdn Bhd (PMS), a subsidiary of Press Metal Berhad, had declared force majeure after it shut its primary aluminium production lines at the Mukah...
Erbslöh acquires US extrusion press company
Bowers Manufacturing Company in Portage, Michigan, USA was taken over by Erbslöh as of 1 November 2013. Erbslöh is a company with long tradition. It is located in Velbert, Germany and belongs to the WKW automotive group. In future the new production facilities will supply extruded products to their...
Rio Tinto sells down stake in Constellium NV
Rio Tinto Ltd , one of the world's top mining companies, has sold most of its stake in aluminum products maker Constellium NV for about $330 million, according to a regulatory filing on Monday. Rio which had a 28 percent stake, sold 19,316,355 shares of Constellium on Nov. 14 at a price of $17 per...
Nampak buys Nigerian beverage-can business
Nampak has bought Alucan Packaging, a beverage-can operation in Nigeria, funding the deal through existing cash resources and debt facilities. Africa’s largest packaging group also said on Monday it had been granted an option to acquire a leading rigid plastics company in West Africa’s largest...
Ormet looks to sell alumina to Glencore
Ormet Corp has inked a pact to sell about 32,000 tonnes of alumina to Glencore Xstrata for $8.44 million. The bankrupt Hannibal, Ohio-based aluminium producer is seeking court approval to sell the calcined metallurgical-grade alumina, valued at $263.75 per tonne, from its Burnside refinery to...
Vale completes sale of Norsk Hydro stake for $1.8 billion
Vale SA (VALE), the world’s biggest iron ore exporter, completed the sale of all of its 22 percent stake in aluminum-maker Norsk Hydro ASA (NHY) for $1.82 billion after an over-allotment option was exercised. Vale sold the additional 40.7 million Hydro shares for 25 kroner ($4.04) each, the Rio de...
Vale seeks to sell $1.8 billion aluminum Norsk Hydro stake
Vale SA (VALE), the world’s biggest iron ore exporter, plans to sell its stake in aluminum-maker Norsk Hydro ASA (NHY) for as much as $1.8 billion, about half the holding’s value when the Brazilian company acquired it in 2011. Vale expects to sell as much as 447.7 million shares, or all its 22...
Sapa will close Belgian aluminium tubing plant
Downstream aluminium producer Sapa Group will close its aluminium tubing plant in Seneffe, Belgium, after evaluating a number of restructuring options, the company said on Thursday November 7. “After careful consideration, Sapa Precision Tubing has today started consultations with employees [...]...
Century Aluminium decided against acquiring Burnside alumina refinery
Century Aluminium kicked the tires at Ormet Corp’s alumina refinery in Burnside but decided against acquiring the facility. “We take a look at everything ... and we took a look at this one,” Michael A Bless, Century president and ceo, said during a conference call with analysts, noting that the...
Sumitomo Corp. to participate in 2nd phase of aluminium smelters in Malaysia
Sumitomo Corporation (SC) has entered into a share purchase agreement with Press Metal Berhad (PMB) for acquisition of a 20% share in the second phase of the aluminium smelting project in Sarawak, Malaysia (Capacity: 320,000 metric ton per year; Completion: the end of 2013) being developed by PMB...
RHB Research maintains Buy on Press Metal
RHB Research has maintained its Buy call on Press metal with a higher fair value of RM3.77 from RM2.77 after its recent disposal of the loss-making Hubei smelter via an asset swap in exchange for a profitable extrusion unit. In a note on Monday, RHB said it lauds Press’ disposal of a 20% stake in...
Nippon Asahan Aluminium to seek international arbitration over the takeover of Inalum
Nippon Asahan Aluminium (NAA) has sent a letter to the Indonesian government asking for the settlement of a dispute over the takeover of PT Indonesia Asahan Aluminium (Inalum) through international arbitration. In a press statement received by ANTARA here on Friday, the Ministry of Industry said...
Sapa completes sale of extrusion assets to SKA Invest
Sapa has completed the divestment of its aluminium extrusion operations in Raufoss, Norway, and its affiliated fabrication plant in Vetlanda, Sweden, to SKA Invest AS. The sale agreement, signed on September 10 this year, has been formally approved by the European Commission and the competition...
Minister says Inalum safe under state firm management
State-Owned Enterprises (SOE) Minister Dahlan Iskan has guaranteed that PT Inalum will not face raw material supply problems after it is taken over from Japan by his ministry on November 1, 2013. "The House of Representatives (DPR) and the government have approved the acquisition of Inalum and...
Hydro agrees to sell Malaysian rolling mill
Hydro has entered into a binding agreement to sell its aluminium rolling mill in Malaysia to Nippon Foil Mfg. Co., Ltd. (NFM), a wholly owned subsidiary of UACJ Corporation, based in Japan. The transaction value is USD 20 million. The aluminium foil plant in Pasir Gudang, Malaysia started...
Ormet in 'advanced discussions' to sell alumina refinery
Bankrupt US aluminum producer Ormet is in "advanced discussions" about selling its 540,000 mt/year alumina refinery in Burnside, Louisiana, which is currently idled, and a deal is expected soon, CEO Michael Tanchuk told Platts Thursday. Citing a confidentiality agreement, Tanchuk said in an...
