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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Rio Tinto’s pain is packaging giant Amcor’s gain
The results of packing giant Amcor and global miner Rio Tinto indicate fortune does indeed favour the prepared. Rio Tinto, the world’s second-biggest mining group, reported its first ever annual loss last week, following more than US$20 billion (HK$155.1 billion) in write-downs since its...
Ess Dee Aluminium surges on strategic alliance news
Ess Dee Aluminium has surged 15% to Rs 338 after the company said it is exploring new strategic options including joint ventures, partnership as well as technology upgradation. “The company’s strategic initiatives will yield results in the coming months and will create long term value,” Ess Dee...
Rio Tinto still under pressure due to its fateful acquisition of Alcan
What is often dubbed the metal of the future for its impressive demand growth profile has been an albatross for the resources giant ever since it made that fateful 38-billion acquisition of Alcan back in 2007. Five years on and 29 billion of write-downs later and aluminum is still a highly...
Alumina shares soar on China investment
Shares in Alumina have hit their highest level in nearly 12 months after a large Chinese investor took a $452 million stake in the under pressure aluminium producer. CITIC will buy more than 366 million new Alumina shares, which will equate to just over 13 per cent of Alumina's total share base,...
Distortions on share purchase agreement may delay negotiations on ALSCON
The on-going negotiations on the sale of the Aluminium Smelter Company of Nigeria (Alscon) Ikot Abasi in Akwa- Ibom State, between the Bureau for Public Enterprises (BPE) and BFIG is tilting towards the rocks, due to alleged distortions on the mutually agreed Share Purchase Agreement (SPA), the...
Reliance Steel & Aluminium to acquire Metals USA Holdings Corp
Reliance Steel & Aluminum Co. and Metals USA Holdings Corp. today announced a definitive merger agreement whereby Reliance Steel & Aluminum Co. will acquire all outstanding shares of Metals USA Holdings Corp. for $20.65 per share in cash, representing an enterprise value of approximately $1.2...
Standard Chartered Bank buys 1.60 lakh shares of Ess Dee Aluminium
Standard Chartered Bank (Mauritius) bought over 1.60 lakh shares of Ess Dee Aluminium through bulk deal on NSE. The matching seller was the Canadian bank, The Bank of Nova Scotia Asia Ltd. The transaction was done at the share price of R319.9 per piece amounting to more than R5.12 Cr. Other...
Indonesian government and Japanese consortium NAA agree on Inalum takeover
The Indonesian government and Japanese consortium Nippon Asahan Aluminium (NAA) have agreed that the takeover of Indonesia Asahan Aluminium (Inalum) will be made through a transfer of shares, instead of transferring assets as stipulated in the contract between the two parties. “We’ve also agreed to...
California-based BFI Group to go ahead with the acquisition of Alscon
California-based BFI Group Corp. will go ahead with the acquisition of the Aluminium Smelter Co. of Nigeria, known as Alscon, BFI Group's chief executive officer said Thursday, following a directive of the country's National Council on Privatization that it should be sent an offer letter and share...
Bluff smelter sale still likely - analyst
An analyst says resources giant Rio Tinto is unlikely to change plans to sell the aluminium smelter near Bluff but it could be more attractive to potential buyers after a massive asset writedown by its parent company. Rio Tinto announced last week it was writing down the value of its coal business...
Hindalco to acquire Novelis' alumina refinery in Brazil
Hindalco Industries, the metals flagship of the Aditya Birla Group, today said it has finalised arrangement for acquiring alumina refinery and bauxite mines in Brazil from its wholly-owned subsidiary Novelis as part of corporate reorganisation plan. "Hindalco Industries has finalised its...
Kobe Steel and ALCHA Terminate Aluminum joint venture
Kobe Steel Ltd., Tokyo, and the Chinese company Jiangsu ALCHA Aluminium Co. Ltd. have terminated their letter of intent to form a joint venture (JV) to produce aluminum coil and sheet in China. The two companies had initially announced the joint venture In December 2011. The goal of the JV was to...
Rio Tinto agrees sale of shareholding in Palabora
Rio Tinto has reached a binding agreement to sell its 57.7 per cent effective interest in Palabora Mining Company Limited (Palabora) for US$373 million. The purchaser is a consortium comprising South African and Chinese entities led by the Industrial Development Corporation of South Africa Limited...
Hydro Aluminium on line growth
Pascal Hubert as director of Hydro Aluminium in Châteauroux, seems to be sweeping the questions about the future of the site castelroussin. Especially since the depressed construction sector affects the aluminum profile with full force. "But the extruded products are everywhere in our environment,...
Ball Corporation Completes Acquisition of Extruded Aluminum Packaging Facility in Mexico
Ball Corporation (NYSE:BLL) today completed its acquisition of Envases del Plata S.A. de C.V., a leading producer of aluminum aerosol packaging with a manufacturing plant in San Luis Potosi, Mexico. The San Luis Potosi plant produces extruded aluminum aerosol cans for personal care and household...
Nordic Aluminium resolved to apply for de-listing of its shares
Oy Lival Ab ("Lival") has submitted a statement of claims in the proceedings related to squeeze-out of minority shares of Nordic Aluminium Oyj ("Nordic Aluminium") on 12 November 2012 pursuant to Chapter 18 of the Companies Act. According to Section 6 of Chapter 18 of the Companies Act, in the...
Vale is not in a hurry to sell Aluminum Norsk Hydro Stake
Vale SA, the giant Brazilian mining company, said Thursday it is in no rush to sell its 22% stake in Norway-based aluminum company Norsk Hydro ASA (NHY.OS, NHYDY). "We will sell when it is showing value for Vale," Murilo Ferreira, Vale's chief executive, told journalists at the company's London...
Global Alumina to acquire all of BHP Billiton's one-third interest in a proposed alumina Project
Global Alumina Corporation, a corporation participating in a joint venture to develop an alumina refinery, mine and associated infrastructure in the bauxite-rich region of the Republic of Guinea, announced today that Dubai Aluminium Company Limited ("DUBAL") and MCD Industry Holding Company LLC...
