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
Indonesian Govt may float Inalum on stock market
The government is set to take full control over aluminum producer PT Indonesia Asahan Aluminium (Inalum) and then float the company on the stock market or offer it to investors after the acquisition, Industry Minister MS Hidayat said in Jakarta on Friday. Hidayat said that official deliberations...
Indonesian state enterprise ready to buy stakes of an aluminium smelter sold by its Japanese owner
An Indonesian state enterprise is ready and willing to buy a 59 percent stake in an aluminium smelter that the current Japanese owner is being forced to sell under foreign investment laws, a government minister said on Friday. Nippon Asahan currently holds the stake in Indonesia Asahan Aluminium...
Kyrgyz Alumina to acquire Alumina Concession by exchange of shares
Bio-Clean International announced that its Joint Venture partner Kyrgyz Alumina Inc., a Nevada Corporation, signed a Letter of Intent on July 20, 2012 to acquire Glinozium, LLC by exchange of shares. Glinozium currently holds concessions for three deposits of alumina, with raw reserves of 828...
Chalco to make takeover bid for for SouthGobi Resources
Chalco has decided to extend its offer for a majority stake in Mongolia-focused coal miner SouthGobi Resources for the second time, the Chinese aluminium giant said on Thursday, in the face of stiff political opposition in Mongolia. State-controlled Chalco will extend the time for it to make a...
Aleris takes over Voerde Aluminium's cast house
U.S. metals group Aleris said on Friday it had acquired the cast house of insolvent German aluminium plant Voerde Aluminium. The sale of the cast house to an unnamed customer had been announced in May while a buyer was being sought for the separate electrolysis and anode production units at the...
QED Connect, Inc. to acquire Kyrzyg Alumina, an aluminum mining company.
QED Connect, Inc. today announced that it has entered into letters of intent (LOI) to acquire 100% of Terra Resources and Kuma Oil, both oil and gas companies, and Kyrzyg Alumina, an aluminum mining company. Terra, through its subsidiary company NV Alliance, has oil and gas rights in the Republic...
Sterlite Industries Updates on Scheme of Amalgamation and Arrangement
Sterlite Industries (India) Ltd has informed BSE that the Hon''ble High Court of Madras has admitted the Petition filed by the Company in relation to the Scheme of Amalgamation and Arrangement amongst the Company, The Madras Aluminium Company Limited, Sterlite Energy Limited, Vedanta Aluminium...
Norsk Hydro to sell its Portuguese extrusion plant
Norwegian aluminium firm Norsk Hydro has agreed to sell its Portalex extrusion plant in Cacem, Portugal, to Germany's Bavaria Industriekapital AG for an undisclosed sum, the company said on Wednesday. The transaction is expected to close on Aug. 31, Hydro said, adding that the plant, which handles...
Alcoa Takes Full Ownership of Evermore Recycling
Alcoa today announced it has reached an agreement with Novelis whereby Alcoa will assume full control of the Evermore Recycling joint venture, the undisputed leader in used beverage can (UBC) recycling, effective August 31, 2012. The two companies previously were partners in the joint venture which...
Nalco may buy Indonesia’s Ashan Aluminum
Aluminum producer Nalco is in talks to buy Indonesia’s Ashan Aluminum (Inalum) for up to Rs 8,000 crore in what could be the largest overseas acquisition by a state-owned metal firm. A Japanese consortium holds a 59 per cent stake in Inalum, which owns a 2.1-lakh-tonne plant in the North Sumatra...
BHP considering sale of Brazil aluminium stakes
Global miner BHP Billiton has appointed advisers to explore a sale of aluminium assets in Brazil, the Financial Times reported on Thursday. BHP declined to comment on the report that it was considering selling its stakes in the Alumar aluminium and Mineracao Rio do Norte bauxite joint ventures. BHP...
Guala Closures to acquire South African metal closure division
Guala Closures has commenced acquisition of the metal closures division of MCG Industries, a manufacturer of aluminium closures in Cape Town, South Africa. The acquisition is subject to the approval of the South African Competition Commission and is expected to be given in the last quarter of 2012....
Supreme Court Orders BPE to Sell ALSCON to BFI Group
Eight years after the Federal Government refused to sell the Aluminium Smelter Company of Nigeria to BFI Group Corporation, the Supreme Court has ordered the Bureau of Public Enterprises (BPE) to execute the share purchase agreement with the company to enable the company pay the agreed ten per cent...
Vedanta's Agarwal slams govt for slow divestment process
Vedanta may not revise its Rs 17,000-crore offer to buy the government's stake in Hindustan Zinc (HZL) and Bharat Aluminium Company (BALCO) adding that the valuation was concluded as per the agreement signed at the time of acquiring majority stakes in the two firms. Vedanta chairman Agarwal also...
Sesa Goa targets Rs 240 in next 2-3 months
Tulsian told CNBC-TV18, "Holding positive view because this Karnataka restart of the mining can easily take them back to that old Rs 50 EPS kind of things. If you have seen in FY12 they have shown really very poor working. I am not saying that the entire region was the stoppage of the mining...
Chalco delays in acquiring SouthGobi stake
Chinese aluminum giant Chalco delayed plans to acquire a controlling stake in Mongolia-focused coal miner SouthGobi Resources Ltd on Tuesday, as it continues to work on securing regulatory approvals in Mongolia and outside. In April the Aluminum Corporation of China Ltd , better known as Chalco,...
Alcoa to sell hydropower project to Brookfield
Aluminum company Alcoa Inc said on Friday it will sell its Tapoco hydroelectric project in Tennessee and North Carolina to Canada's Brookfield Renewable Energy Partners for $600 million. Tapoco, a 351-megawatt project located on the Little Tennessee and Cheoah Rivers in eastern Tennessee and...
Novelis announced the sale of three European aluminum foil and packaging plants to Eurofoil
Novelis Inc. today announced it has completed the sale of three European aluminum foil and packaging plants to Eurofoil, a unit of American Industrial Acquisition Corporation (AIAC). The transaction includes foil rolling operations in Rugles, France; Dudelange, Luxembourg; and Berlin, Germany,...
