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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General Cable Corporation completes acquisition of Alcan Cable China
General Cable Corporation announced today that it has completed the acquisition of Alcan Cable China. Alcan Cable China represents approximately 10% to 15% of overall revenues of Alcan Cable. “Alcan Cable China has a 430,000 square foot, vertically integrated manufacturing plant in Tianjin, China...
GF Automotive to further expand its activities in Asia and Europe
GF Automotive, a Corporate Group of Georg Fischer, will further enlarge its existing plants in China and focus in Europe on its iron and aluminum die-casting foundries. The aluminum sand casting business with two foundries in Friedrichshafen and Garching, Germany, will be divested. Georg Fischer...
Rio Tinto expects its large asset sale to generate strong proceeds
Global miner Rio Tinto said it expects the sale of assets it no longer wants, such as its Pacific Aluminium and diamonds businesses, to generate strong proceeds over the next year or more. It has already generated $12 billion (£7.5 billion) from the sale of more than 20 assets since 2008 and said...
Vedanta to offer 'fair' price for HZL and Balco stake
Vedanta on Tuesday said it will fork out the right price, arrived at a "transparent process", for buying out government's residual stake in Hindustan Zinc (HZL) and Bharat Aluminium Company (Balco). "Whatever is fair. I am looking at the process, we are not looking at negotiating anything. Whatever...
Acquisitive Investments acquire ownership of the Common Shares of Global Alumina
Acquisitive Investments Limited. today announced that, on November 21, 2012, Acquisitive Investments acquired 6,000,000 common shares ("Common Shares") of Global Alumina Corporation ("Global Alumina") at a price of approximately CDN$ 0.14 per Common Share (the "Transaction"). The aggregate cash...
Alcoa to consider buying BHP and Rio Tinto Aluminum assets
Alcoa Inc. (AA), the largest U.S. aluminum producer, may buy some assets used to make the metal from BHP (BHP) Billiton Ltd. and Rio Tinto Group as it expects demand to grow about 6.5 percent a year for the next decade. “We’re having a look if they’ve got assets that they want to divest,” Alcoa of...
Polish firm acquires 35% stake in SMC unit
The San Miguel group is taking in Poland-based Can Pack Group, a key player in the global packaging industry, as a strategic partner in its aluminum can manufacturing business. In a statement on Thursday, San Miguel Corp. said its packaging unit San Miguel Yamamura Packaging Corp. (SMYPC) had...
BHP Billiton to sell stake in Guinea alumina venture
Mining giant BHP Billiton would sell its 33.3% interest in the Guinea Alumina joint venture (JV) to it partners for $1. Under the current project shareholders agreement, each of the JV partners – TSX-listed Global Alumina Corporation, Dubai Aluminium Company (Dubal) and MCD Industry Holding Company...
Global Alumina Announces Agreement to Purchase Additional Interest in 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 it has entered into a sale and purchase agreement ("SPA") with the Broken Hill...
Cape Alumina reveals major negotiation with third party
Cape Alumina could have a significant transaction to reveal with the company that granted a trading halt this morning by the ASX. Cape Alumina said the halt was required pending 'negotiations for a number of significant transactions which are currently underway between the company and a third...
Sterlite Industries regaining Street confidence
Sterlite Industries is once again attracting analysts’ attention, especially after the recent quarterly results, which were ahead of expectations. Many of them are now turning positive on the company due to reasonable valuations. More importantly, analysts believe that the contribution of zinc,...
Mines ministry moves note on HZL, Balco residual stake sale
Finance Minister P Chidambaram on Monday said the mines ministry had moved a note for the sale of the government’s residual stake in Hindustan Zinc Ltd (HZL) and Bharat Aluminium (Balco). The matter would go to the Cabinet and the finance ministry would give its views in due course, he said. And,...
Federal Govt Moves to Take over ALSCON from Russia’s Rusal
Following a Supreme Court judgment, which revoked the sale of the Aluminium Smelter Company of Nigeria (ALSCON) by the Bureau of Public Enterprises (BPE) to Rusal, a Russian company, the Federal Government said it has commenced the process of handing over the company to BFI Group. In December 2006,...
December deadline for sale of bauxite company
Government intends to rid itself of its stake in Clarendon Alumina Partners (CAP) in the next two months. "We are currently in discussions with potential partners in CAP which is aimed at taking CAP off the Government's accounts totally by the end of this calendar year," Finance Minister Dr Peter...
Aleris International, Inc. Announces Launch of Senior Unsecured Notes Offering
Aleris International, Inc. (the "Company") today announced that it intends to commence a private offering, subject to market conditions, of 400 million aggregate principal amount of senior unsecured notes due 2020 (the "Notes"). The Notes will be guaranteed on a senior unsecured basis by certain of...
Indonesia govt expects to buy PT Inalum for $700 million
Indonesia's government is in talks to buy out the Japanese majority owners of aluminium producer PT Inalum for an estimated $700 million, the southeast Asian nation's industry minister said on Tuesday. The talks over PT Inalum, whose output of aluminium ingots last year fell 0.9 percent from 2010,...
Hydro and Orkla to form the world's leading aluminium solutions provider
Norsk Hydro ASA and Orkla ASA have agreed to combine their respective profiles, building systems and tubing business, creating the world's leading aluminium solutions provider. The new combined company, to be named Sapa, will be a 50/50 joint venture owned by Hydro and Orkla. br> The agreement...
Rio Tinto to sell aluminium plant in French Alps
Reuters reported that Rio Tinto is pushing ahead with plans to sell a century old aluminium plant in the Alps of southeast France as the global mining group continues its retreat from a struggling aluminium sector. The group's Rio Tinto Alcan division that operates the Saint Jean de Maurienne plant...
