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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Chinalco to offload $1.3b in assets after heavy losses
Aluminum Corporation of China Limited, or Chinalco, China's largest alumina producer and the world's third largest primary aluminum producer, has announced the sale of 8 billion yuan's worth ($1.3 billion) of assets after heavy losses for the past four years. The assets being sold are held by nine...
Chalco to sell $1.3 billion of assets mainly to parent company
Aluminum Corp. of China Ltd., the nation’s biggest producer of the lightweight metal, said it will sell about 8.18 billion yuan ($1.3 billion) of assets, including production plants, mainly to its parent. The Beijing-based company, called Chalco, also plans to sell $1 billion of perpetual bonds...
Epwin Group buys Crown Architectural Aluminium Ltd
Crown Architectural Aluminium Ltd has been bought by Epwin Group, it has been confirmed. The window company, based in Newton Abbot, was founded over 30 years ago and supplies, builds and installs a range of products including windows, shop fronts, fire doors and curtain walling. The firm works...
AMG Aluminum announces sale of ownership interest in Chinese joint venture
AMG Advanced Metallurgical Group N.V. announces that AMG Aluminum has entered into a definitive agreement to sell its 45% equity interest in Nanjing Yunhai KB Alloys Co., Ltd to Nanjing Yunhai Special Metals Co., Ltd. The transaction is expected to close during the second quarter of 2013. This is...
Century Aluminum to buy Sebree aluminum smelter
Century Aluminum Co. said Monday that it is buying the Sebree aluminum smelter from a subsidiary of Rio Tinto Alcan Inc. for about $61 million in cash. The news sent the Monterey, Calif.-based aluminum company's shares up 90 cents, or 13 percent, to $7.64 in afternoon trading. Under the agreement,...
Furukawa-Sky Aluminum and Sumitomo Light Metal Industries to merge in October
Furukawa-Sky Aluminum Corp. and Sumitomo Light Metal Industries Ltd. said they plan to integrate their operations on Oct. 1 to survive intensifying competition from Chinese and South Korean rivals in aluminum rolling business. The two nonferrous metal companies said they have reached a final...
AMG Aluminum agrees to sell 45% equity interest In Nanjing Yunhai KB Alloys
AMG Advanced Metallurgical Group N.V. said AMG Aluminum has entered into a definitive agreement to sell its 45 percent equity interest in Nanjing Yunhai KB Alloys Co., Ltd or YKB to Nanjing Yunhai Special Metals Co., Ltd. The transaction is expected to close during the second quarter. According to...
Russia's Onexim mulls buying Rusal's debt
Russian billionaire Mikhail Prokhorov's Onexim group is considering buying the debt of aluminium giant RUSAL to increase its influence over strategy, or may sell out completely, Onexim's chief executive was quoted as saying. Onexim, which has a 17 percent stake in the world's largest primary...
ELCOM acquires its distributor in Germany
The company ELCOM has taken control of his distributor in Germany. With this acquisition, the Isère company which, through its two poles Elcom Elcom Transitique profiles and designs and manufactures modular solutions for the aluminum industry, workstations, conveyors and transfer systems, secures...
Hydro and Orkla propose remedies to obtain EU clearance
Following the agreement between Norsk Hydro ASA and Orkla ASA to combine their respective aluminium extrusion businesses, the European Commission has expressed preliminary concerns regarding the possible competitive effects of the intended merger in certain markets. The concerns relate to...
Fall in aluminum price expected if production is not cut says top executive of UC Rusal
A top executive of the world's No1 aluminum producer, United Co Rusal, warned yesterday that the price of the metal may fall further unless production is cut as current stocks could last for another three years. The global inventory stands at five to six million tonnes, Rusal deputy chief executive...
Reliance Steel & Aluminum Co. completes acquisition of Metals USA Holdings Corp.
Reliance Steel & Aluminum Co. today announced that it has completed the previously announced acquisition of Metals USA Holdings Corp. for $20.65 per share in cash, pursuant to which Metals USA has become a wholly-owned subsidiary of Reliance. This acquisition adds a total of 48 service centers...
Ess Dee Aluminium surges on promoters stake sale buzz
Shares of Ess Dee Aluminium, an aluminium packaging company, extended overnight gains on buzz that its promoters are planning to sell their entire stake to Australia-based Amcor. The stock has been hitting 52-week highs after ET Now reported that the promoters of may sell their stake for a total...
Rusal plans to buy Bogoslovsk power plant in 2013
Russian aluminum company UC Rusal plans to buy the Bogoslovsk Combined Heat and Power Plant from IES Holding in 2013, the Director of Natural Monopoly Relations at Rusal Maxim Balashov told reporters. "We plan to close the deal this year as soon as we agree on a price," he said. The asset was...
Ess Dee Aluminum hits 52-week high on heavy volumes
Ess Dee Aluminum has rallied 14% to INR 463, extending its over 8% surge in past two trading sessions, on back of heavy volumes. The stock opened at INR 414 and hit a 52-week high of INR 468 on the National Stock Exchange. A combined 880,982 shares have already changed hands on the counter till...
Hunt continues for alternative buyer for Ormet
Investment bankers in the bankruptcy of US aluminum producer Ormet are still working the phones and holding face-to-face discussions to determine if anyone else, besides Wayzata Investment Partners, is interested in buying the company, a source involved in the case said Friday. The "bankers are...
Ess Dee Aluminium turns weak and is down 1.1%
The Ess Dee Aluminium stock has reversed after witnessing an upswing in Monday’s trade on NSE. The stock is currently trading at INR 383.15, down 4.30 or 1.1% at 1:11PM. Reports state that the company is in talks with Amcor of Australia to sell the company. A report in ET quoting sources states...
Reliance Steel & Aluminum raises $2 bn for Metals USA Holding acquisition
Reliance Steel & Aluminum Co, North America's largest metals service centre company, today said that it has closed a $2-billion financing deal for its proposed Metals USA Holding Corp acquisition. The Los Angeles-based company said that it has amended and restated its existing $1.5-billion...
