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
OpenGate Capital acquires aluminium extrusion business from Constellium
OpenGate Capital, LLC, a global private buyout firm, announced yesterday it has acquired Constellium Extrusions, a highly specialized manufacturer of extruded aluminum profiles with operations in Saint-Florentin and Ham, France. Constellium, is divesting the business as part of an on-going strategy...
Bhoruka Aluminium sells off subsidy to YKK Holding Asia, Singapore
Bhoruka Aluminium announced that, as part of restructuring process, the shares held by the company in its subsidiary 'Bhoruka Facades' has been transferred to 'YKK Holding Asia, Singapore. Consequently, Bhoruka Facades ceased to be the subsidiary of the company with effect from May 28, 2013. Shares...
Global Alumina gets green signal for interest sale in Guinea Alumina
Global Alumina Corporation is pleased to announce that the Ministry of Mines and Geology of the Republic of Guinea has issued a No Objection Letter in connection with the previously announced sale by the Company of all of its interests in Guinea Alumina Corporation Limited to DM GAV Limited. The...
Tesoro receives FTA clearance for refinery and marketing business acquisitions
Tesoro Corporation announced that the Federal Trade Commission has cleared the Company's planned acquisition of BP's fully integrated Southern California Refining and Marketing business. Tesoro also said that itintends to close the acquisition during the second quarter, subject to customary closing...
Ormet sale hearing postponed as negotiations continue
A scheduled Wednesday sale of bankrupt US aluminum producer Ormet Corp. to Wayzata Investment Partners was postponed until June 3 by a federal bankruptcy judge because negotiations are continuing on the disputed terms of the proposed transaction. Judge Mary Walrath of the US Bankruptcy Court for...
Guinea approves BHP, Global Alumina stake sale in refinery project
The government of Guinea said on Wednesday it has given approval to BHP Billiton and Global Alumina to sell their stake in a bauxite and alumina project to Dubai Aluminium Co (Dubal) and Mubadala Development Co. BHP paid $140 million in 2007 for a 33.3 percent stake in the Guinea Alumina Corp...
Castings firm Truscanian charts growth after sale
A BLACK Country castings firm is targeting growth after being sold in an undisclosed deal. Truscanian Foundries, based in Oldbury, has been purchased by W Lucy & Co, of Oxford. Truscanian, which was founded in 1982, will continue to trade from its site on St Martin’s Industrial Estate with the...
Aluminium chief to leave Glencore Xstrata
The head of aluminium at Glencore Xstrata is set to leave the natural resources company, in the first senior departure since its takeover of Xstrata earlier this month. Gary Fegel, who has run Glencore’s aluminium division since 2006, will leave the company this summer, according to a person...
Global Alumina to discuss Guinea alumina sale in annual general meeting
Global Alumina Corporation announced today that its board of directors has determined the Company will hold an annual general and special meeting of its shareholders on July 2, 2013. The record date for the determination of shareholders entitled to receive notice of and vote at the annual general...
Dubal and Mubadala to fully acquire Guinea Alumina Corporation
Aluminium and Mubadala said they will acquire the remaining part of Guinea Alumina Corporation they don’t already own, a move that secures long-term access to bauxite used at UAE smelters. The two parties are purchasing the interests in GAC from BHP Billiton and Global Alumina Corporation, the two...
Hindustan Zinc, Bharat Aluminium stake sale will be a windfall
Vedanta Resources today said its offer to buy out government stakes in Hindustan Zinc and Bharat Aluminium Company (Balco) for which it is awaiting the response will be "windfall" for all stakeholders. "We have no doubt that this (deal to acquire remaining stakes in the two firms) will happen but...
Global Alumina Announces Agreement to Sell Its Interests In Guinea Alumina Corporation
Global Alumina Corporation announced today that it has signed a share purchase agreement with DM GAV Limited, a company established and owned equally by Mubadala Development Company PJSC and Dubai Aluminium, to sell all of Global Alumina's interests in Guinea Alumina Corporation Limited to DM GAV....
Global Alumina Releases First Quarter 2013 Results
Global Alumina Corporation announced today its financial and operating results for the three month period ended March 31, 2013. The text of the quarterly unaudited financial statements and management's discussion and analysis can be viewed or printed from the Company's SEDAR reference page at...
Commission approves merger in the soft-alloy aluminium extrusion market
The European Commission, under the EU Merger Regulation, approved the creation of a joint venture between two Norwegian aluminium companies, Norsk Hydro ASA and Orkla ASA's wholly-owned subsidiary Sapa Holding AB. The new entity will be named Sapa. The new merger has already been approved by the...
Chalco to withdraw from aluminum processing
Aluminum Corporation of China Limited (Chalco), the country's biggest aluminum producer by output, announced plans recently to sell its aluminum processing assets, a development which underlines the industry's vexing overcapacity problems, analysts said Tuesday. Chalco intends to transfer stakes in...
ALSCON ownership tussle: Supreme Court commences hearing again
The Nigerian Supreme Court will determine who has acted contrary to ts judgement. The Supreme Court will on Monday hear the petition against the Bureau of Public Enterprises (BPE) over its decision to cancel the offer to BFIG to acquire the Aluminium Smelter Company of Nigeria (ALSCON). The BPE,...
Norsk Hydro Receives EU Commission Approval For JV With Orkla
Norsk Hydro ASA Monday said it has received approval from the EU Commission for a joint transaction with branded consumer goods group Orkla ASA to form a joint venture within aluminium solutions to be named Sapa. The transaction has already been approved by the U.S. Department of Justice and...
Aluminum Corp Of China Ltd to sell its entire stake in eight companies
Aluminum Corp Of China Ltd announced that it will list all its 86.84% stake in a Henan-based aluminum company, a 60% stake in an aluminum plate company, a 100% stake in a cold rolling company and a Qingdao-based light metal company, a 56.86% stake in another aluminum company, a 93.74% stake in...
