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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Alexandria Industries acquires Aluminium Extrusion Company in Indianapolis
MidAmerica Extrusions of Indianapolis, a company specializing in aluminum extrusions, has been acquired by Alexandria Industries, a privately held, high-quality producer of engineered products. Alexandria Extrusion MidAmerica is the new name of MidAmerica Extrusions. MidAmerica Extrusions’...
Alexandria Industries Acquires MidAmerica Extrusions for engineering services
Alexandria Industries today announced it has acquired MidAmerica Extrusions of Indianapolis, a manufacturer of aluminum extrusions for a variety of applications and industries. The support staff and production team members of MidAmerica Extrusions will join Alexandria Industries, a high-quality,...
Bio-Clean International ties up with Kyrgyz Alumina Inc. for mining operation
Bio-Clean International, Inc. announced that the Company has entered into a Joint Venture agreement with Kyrgyz Alumina Inc., a Nevada Corporation. Under this agreement, the two corporations will form a new limited liability corporation which will seek to acquire mining interests, ore and mineral...
Hong Kong’s LME deal not profitable in the short term
Hong Kong Exchanges & Clearing Ltd.’s pursuit of the London Metal Exchange is transforming the Asian bourse into the industry’s worst performer. Hong Kong Exchanges’ $2.2 billion bid for the LME this month valued the world’s largest trading venue for industrial metals at 181 times earnings, making...
Sesa, Sterlite merger creates 7th largest natural resources company
London Stock Exchange-listed Vedanta Resources moved a step ahead to merge its Indian subsidiaries to create a diversified mining and metals group. On Monday, iron ore miner Sesa Goa and copper-to-aluminium maker Sterlite shareholders approved creating the $14.5-billion Sesa Sterlite, the...
Sesa Sterlite to become one of the world's top diversified resource company
The verdict on the vote for the merger of Sesa Goa and Sterlite Industries will be announced later today. The combined entity, Sesa Sterlite, will be one of the largest diversified resources players in the world with operations in iron ore mining, copper, Aluminium, zinc, lead, silver and oil &...
Govt likely to reject Vedanta's offer to buy Balco and Hindustan Zinc stake
The government is likely to reject an offer by the Anil Agarwal-led metals and mining conglomerate Vedanta Resources to buy the residual stakes in group firms Hindustan Zinc Ltd (HZL) and Bharat Aluminium Co Ltd (Balco) for about Rs 17,000 crore. A senior government official associated with the...
Winsway Coking Shares Soar ahead expectiing Chalco acquisition
Shares of Hong Kong-listed Winsway Coking Coal Holdings Ltd. have been surging this week with some analysts asking if China’s state-backed aluminum giant could be at work. On Wednesday, Winsway was up more than 20%. The unusual share price movement led the company to issue a statement to the stock...
Sesa Goa investors vote on Vedanta merger
Concerns about operational hurdles and a large debt inherited from the aluminium business, dominated the extraordinary general meeting (EGM) of Sesa Goa on Tuesday, as shareholders of the iron ore mining firm cast their vote on the proposal to merge their firm with Vedanta Resources flagship...
Sesa Goa shareholders to vote on Sterlite merger
The shareholders of Sesa Goa Ltd, who will gather on Tuesday to vote on the company’s proposal to create a new merged entity Sesa-Sterlite, not only have to evaluate the merits of the split verdict of two proxy advisory firms but also the extent to which the recent acquisition of bauxite mines by...
IIAS recommends stakeholders of Sesa-Sterlite to vote against the merger
Ahead of the court-convened meeting to consider the Sesa-Sterlite merger on June 21, advisory firm IIAS has recommended stakeholders of both firms to vote against the merger which was announced by parent company, Vedanta Resources in February this year. These are IIAS’s recommendations to...
Aluminum Corporation of China to Acquire 60% of SouthGobi Resources for $926m
Aluminum Corporation of China Ltd., a subsidiary of Chinalco Aluminum Corporation of China (CHALCO), an aluminum exploration company, intends to make a proportional takeover bid to acquire all issued and outstanding shares of SouthGobi Resources Ltd., a coal production and Development Company from...
The bank may cut the value of BHP Billiton by $US2 billion
BHP Billiton may have to write $2 billion off the value of its aluminium assets as the global economy struggles, industry experts say. And more writedowns could follow if there is no let-up in the poor conditions buffeting the sector, they say. According to research published by Bank of America...
VAL to buy MALCO's power business for Rs 150cr
Vedanta Aluminum Limited (VAL) is planning to buy Madras Aluminium Company Limited (MALCO)’s power business for a consideration of around Rs 150crore. The group will also amalgamate Malco with Sesa Goa Limited (SGL). According to Sterlite Industries (India) Limited, a group company of VAL, as part...
Century Aluminum to buy Zalco anode facility
Century Aluminum will spend $12.5 million in cash to acquire a Dutch production facility that belonged to the former Zeeland Aluminum Co. The facility in Vlissingen, The Netherlands, which is currently closed, makes anodes, the carbon blocks used in the aluminum smelting process. Those anodes will...
Bankrupt aluminium producer ZALCO sold to Dutch, U.S. firms
Parts of bankrupt Dutch aluminium producer ZALCO will be bought by a Dutch and a U.S. company, which will continue casting and anode production but smelting operations will cease, the Dutch buyer and an administrator said on Monday. ZALCO, which had a production capacity of 275,000 tonnes per year...
Christian Jepsen to Join Alcoa as Vice President
Alcoa announced today that Christian Jepsen will join Alcoa as Vice President, Corporate Development this summer. He will be responsible for developing and implementing Alcoa's portfolio growth strategies, including merger and acquisition, and divestiture activities. Jepsen will also serve on the...
General Cable To Acquire Alcan Cable from Rio Tinto
General Cable Corp. says it will acquire Alcan Cable, the wire and cable division of Rio Tinto PLC. The purchase price is $185 million in cash, subject to customary adjustments primarily related to working-capital levels at closing as provided in the definitive purchase agreement. General Cable...
