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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Ess Dee Aluminium in sale talks with Australian packaging giant Amcor
Aluminium foil maker, Ess Dee Aluminium BSE 0.77 % is in talks with Australian packaging giant Amcor to sell controlling stake in the company, sources with direct knowledge said. Amcor has offered to buy the company at a valuation of $365 million and the top officials of both the companies are...
Pressure mounts on Rio Tinto to conclude deal with Trimet
Things are hotting up in France over Rio Tinto’s plans to either sell it’s Saint-Jean-de-Maurienne smelter or sell it to German aluminium producer, Trimet. Since the socialists took power in France last year, the French Government’s Industrial Renewal Minister, Arnaud Montebourg has been pretty...
Japanese aluminum smelters' merge to fuel competition among silicon suppliers
With Japan's second largest secondary aluminum alloy smelter Asahi Seiren taking over another smelter Summit Showa Arumi effective July this year, silicon suppliers expect competition to bag large orders from the merged entity to heat up. "You have a big customer buying a large sum. The customer...
Sadoff buys Aluminum Resources,Inc.
Sadoff Iron & Metal Company of Fond du Lac has reached an agreement in principle to acquire Aluminum Resources, Inc. Aluminum Resources, a processor and supplier of foundry and mill grade recycled aluminum products, was founded in 1988. “This acquisition adds a niche market for us that complements...
French minister warns Rio Tinto against plant closure
"Rio Tinto has a responsibility that negotiations are fulfilled as the French government will not accept the other solution, a closure, that Rio Tinto is still keeping on the table," the minister said after a visit to the plant. Rio Tinto Alcan, the aluminium division of the mining giant, is in...
Greco Aluminum Railings Ltd has a new subsidiary
Windsor-based Greco Aluminum Railings Ltd. has a new subsidiary, Greco Aluminum Railings USA Inc., which shares an office with Bloomfield Hills private equity firm O2 Investment Partners LLC. But the new majority owners expect its U.S. footprint to grow considerably from there. Last August, O2,...
Global Alumina provides further update on Guinea Alumina project
Global Alumina Corporation announced today a further update on its efforts to raise capital in order to, among other things, complete the previously-announced proposed acquisition from The Broken Hill Proprietary Company Pty Limited of its one-third interest in the Guinea Alumina joint venture...
Federal Government of Nigeria terminates sale of Alscon to BFIG
The National Council on Privatisation approved the termination of BFI Group’s offer to purchase 77.5 per cent of Aluminum Smelter Company of Nigeria “following their inability to pay the agreed 10 per cent of the offer price within 15 working days of the execution of the Share Sale/Purchase...
Novagen to acquire the business of Argon Aluminium
Novagen Solar Inc. today announced that on March 7, 2013, Novagen Solar Inc. through its wholly-owned subsidiary, Renegade Engine Company Pty Ltd., entered into a written agreement with Newscope Enterprises Pty Ltd. to acquire the business of Argon Aluminium, of Tweed Heads, NSW, Australia....
Trimet in talks to buy two French Rio aluminum plants
Trimet Aluminium AG, Germany’s biggest producer of the lightweight metal, said it’s in discussions with Rio Tinto Group to buy two smelters in France. “We are in talks,” Martin Iffert, chief executive officer of Trimet, said by phone, declining to give further details. An official for Rio in London...
Global Alumina updates on proposed capital raise and project restructuring
Global Alumina Corporation announced today an update on its efforts to raise additional capital by way of debt or equity in order to complete the previously-announced proposed acquisition from Broken Hill Proprietary Company Pty Limited of its one-third interest in the Guinea Alumina joint venture...
Chalco to boost merger and recombination in electrolytic aluminium industry
As the key enterprise in Chinese aluminium industry, Chalco took the responsibility of prospering Chinese aluminium industry, leading Chinese nonferrous metals business to a sustained, healthy and rapid development path and taking an active part in international competes when it was first...
Japanese group to buy out Bhoruka Aluminium's Mysore extrusion business
Japanese conglomerate YKK Group is in an advanced stage of negotiations to buy out the aluminium extrusion business of Mysore-based Bhoruka Aluminium. The world's largest manufacturer of zippers and hooks is expected to pay Rs 120 crore to acquire the business, which includes India's second-largest...
Aluminum producer Ormet files for bankruptcy, to sell business
U.S. aluminum producer Ormet Corp has filed for Chapter 11 bankruptcy protection, hurt by low aluminium prices and high power costs, and agreed to sell its business to investment firm Wayzata Investment Partners, court documents showed. Ormet has received about $90 million of debtor-in-possession...
Noranda Aluminium to offer senior unsecured notes due 2019
Noranda Aluminum Holding Corporation today announced that Noranda Aluminum Acquisition Corporation, its wholly-owned subsidiary, intends to offer, subject to market and other conditions, approximately $225 million of senior unsecured notes due 2019 . The Notes will be fully and unconditionally...
Citic Resources says no to aluminium smelter purchase
Citic Resources Holdings, the energy and metals arm of state-owned conglomerate Citic Group, will continue to look for acquisition opportunities but will pursue them in a "cautious" manner, its chief executive said yesterday. The company would not buy aluminium smelting assets because of a global...
Law Ministry's views sought on HZL, BALCO share sale
The Mines Ministry has sought the Law Ministry's opinion on selling the remaining government stake in Hindustan Zinc and Bharat Aluminium Company. Majority stakes in both these companies were sold to Vedanta group during 2001-2003 and now the government has a residual stake of 29.5 percent stake in...
China encourage integration management in electrolytic aluminum industry
Twelve departments of Chinese government united to issue “Guidance on boosting annexation and reorganization of enterprises in key industries”, in which they come up with targets on nine industries such as auto,steel,cement,shipping,electrolytic aluminum,tombarthite,electronic information,medicine...
