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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European Commission approves merger of Dubai Aluminum
The European Commission Tuesday approved the acquisition of joint control over Dubai Aluminium (DUBAL) by DUBAL Holding and Industry Holding Company (MDCI), all of the United Arab Emirates. DUBAL is currently solely controlled by DUBAL Holding. It produces and sells aluminum products. MDCI and...
SIFCO Industries announces the acquisition of MW General
SIFCO Industries, a leading supplier of forged components to the aerospace and energy industries, announces the acquisition of substantially all of the operating assets and operations of MW General, Inc. (DBA General Aluminium Forgings) (“GAF”). GAF is an aerospace component supplier located in...
Orbite finalizes agreements with Gastier MP and Vtek Consultants
Orbite Aluminae Inc. announces the issuance of an aggregate of 14,525,146 class A shares at a price of C$0.945 per share to Gastier MP Inc. and Vtek Consultants Inc., two of its suppliers, in full settlement of their respective outstanding claims. The shares are issued pursuant to settlement...
Spanish aluminum recycler Befesa sold to triton
Spanish aluminum alloy producer and waste recycler Befesa has been sold for Eur331 million by its parent company, Abengoa, to investment funds run by Triton Partners, according to a statement issued Monday. After net debt adjustments, the total equity to Abengoa was Eur620 million, the company...
Aluminum trader Bermann sells trading firm he founded after Glencore
Veteran aluminum trader Josef Bermann has sold his stake in JB Commodities AG, severing ties with the base metals merchant firm he set up almost ten years ago after leaving Glencore, the company said. Bermann is no longer associated with JB Commodities AG and JB Commodities (Overseas) Ltd, the...
Indonesian govt to take over Inalum at any cost
The government appears willing to take any risk in its bid to take over PT Indonesia Asahan Aluminum (Inalum) from Nippon Asahan Aluminum (NAA), including the Japanese consortium’s possible use of a third party for settlement. Industry Minister MS Hidayat said recently that the Indonesian...
Emal and Dubal union helps lift merger fees 28%
The value of Middle East and North African mergers and acquisitions rose by 30 per cent to US$14.7 billion in the first half of the year, aided by the merger of two UAE aluminium producers. The $7.5bn merger of Emirates Aluminium (Emal) and Dubai Aluminium (Dubal), announced last month, helped the...
Omega: Maybrey-Reliance - sand reclamation plant installed
Maybrey Reliance has invested in a new Secondary Attrition Sand Re-claim plant, supplied by Omega of Peterborough. This new capital investment will massively improve our carbon footprint and lead to increased efficiency and reduce our dependence on deliveries of dried Silica sand. Maybrey Precision...
TRIMET interested to buy aluminum smelter & casting facility in France
German aluminum producer TRIMET is interested to purchase St. Jean-de-Maurienne aluminum smelter and Castelsarrasin casting facility in France, which are both owned by Rio Tinto Alcan. This was confirmed by Jacynthe Côté, CEO of Rio Tinto Alcan, who said they received a binding offer from TRIMET....
Dubal, Mubadala take over Guinea Alumina Corp
Dubai Aluminium (Dubal), the owner of the world's largest single-site primary aluminium smelter and Abu Dhabi state investment fund Mubadala have secured the full ownership of Guinea Alumina Corporation (GAC). A leading producer of alumina in West Africa, GAC also mines for the raw material...
Global Alumina completes sale of Guinea Alumina Corporation
Global Alumina Corporation is pleased to announce that it has completed the sale by the Company of all of its interest in Guinea Alumina Corporation, Ltd. to DM GAV Limited, pursuant to the terms of the previously announced share purchase agreement entered into by the Company and DM GAV Limited....
Aluminium industry faces challenges, says report
The Middle East’s aluminium industry is in an advantageous position, and can play a key role in industry consolidation and the development of new globally active players, shows a new report by The Boston Consulting Group (BCG). The Middle East’s strategic position is supported by the recent $15...
Ormet unsecured creditors get better deal under new settlement
General unsecured creditors of Ormet will share in a $2 million if Minnesota's Wayzata Investment Partners closes on its pending $282 million purchase of the bankrupt US aluminum producer at the end of July, according to a new bankruptcy court filing. The $2 million benefit for unsecured creditors...
Global Alumina announces results of shareholders’ meeting
Global Alumina Corporation has announced the results of its annual and special meeting of shareholders held on July 2, 2013. A total of 126,007,004 common shares were represented at the meeting, representing 68.73% of the issued and outstanding common shares of the Company. All matters presented at...
Queensland Bauxite buys into Mozambique coal licences
ASX-listed Queensland Bauxite on Tuesday announced that it would buy an interest in two Mozambique coal exploration licences in the Zambezi basin, close to majors such as Vale and Rio Tinto. The junior said it had signed a binding term sheet with Australian unlisted company Regius Coal Mining to...
Auto component maker Rane Group to merge two group entities
Auto component maker Rane Group on Friday said its arm Rane Diecast Ltd (RDL) will be merged with another group firm Rane (Madras) Ltd (RML) with retrospective effect from April 1, 2013. "The board of directors of both the companies approved the merger in their respective meetings held today," Rane...
Research suggests aggressive plan to turn around aluminium industry
The aluminum industry has experienced an abundance of severe challenges in recent years, resulting in a sharp decline in company valuations and profits. To reignite the value creation engine and restore investor confidence, CEOs and their management teams can pursue aggressive action plans that...
HSBC, Citigroup said to manage Emirates Aluminium bond sale
Emirates Aluminium Co, the UAE company that is part of a $15bn merger, has picked six banks including HSBC Holdings for a possible bond sale this year, two bankers familiar with the plan said. Citigroup, BNP Paribas, Royal Bank of Scotland Group, Emirates NBD and National Bank of Abu Dhabi will...
