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 to Acquire Majority Interest in Procables S.A. of Colombia
General Cable Corporation, one of the most globally diversified industrial companies, announced today that it has agreed to acquire a majority interest (60%) in Procables S.A (Procables) for total consideration of $45 million, subject to typical adjustments for net working capital and net...
UAE aluminum extrusion market is expected to boom
The UAE aluminum extrusion market is estimated to be in excess of 175,000 metric tonnes (MT), about 35 per cent of the total GCC demand, growing at a CAGR of 8 to 9 per cent for the time period from 2011-17, said a report. With the strategic acquisition of AKFA Aluminium and Plastic, the UAE-based...
Trafigura, Ormet in Joint Venture to buy aluminum assets
Trading houses like Trafigura and rival Vitol, traditionally the middle men on global sales, are looking to acquire physical assets like aluminum smelters as trading profits shrink and stricter derivatives regulations loom. Any future acquisitions would also cement Trafigura's position in the 40...
Kaiser Aluminum Corporation Announces Closing of Senior Notes Offering
Kaiser Aluminum Corporation today announced the closing of its previously announced offering of $225.0 million in aggregate principal amount of 8.250% senior notes due 2020 (the "notes") in a private transaction that is exempt from the registration requirements of the Securities Act of 1933 (the...
Puget Ventures Signs MOU with China Aluminum International Engineering Corporation
PUGET VENTURES INC. announces that it has accepted the recommendation of Anhua to sign an MOU with China Aluminium International Engineering Corporation Limited ("CHALIECO") as EPC contractor to develop the Karakul Cobalt Project ("Karakul") in Altai, Russia upon completion of the Company's...
General Cable To Acquire Alcan Cable For $185 Million
General Cable Corp. (BGC) agreed to acquire Alcan Cable, the wire and aluminum cable business of mining company Rio Tinto PLC (RIO, RIO.LN), for roughly $185 million in a move expected to expand its product offerings. General Cable, a maker of copper, aluminum and fiber-optic wire and cable...
Kaiser Aluminum increases the price of its senior notes offering
Kaiser Aluminum Corporation announced today that it has priced its previously announced offering of $225.0 million in aggregate principal amount of 8.25% senior notes due 2020 (the "notes") in a private transaction that is exempt from the registration requirements of the Securities Act of 1933 (the...
IES Holding ended talks with Rusal
Billionaire Viktor Vekselberg’s IES Holding ended talks on selling Russian power generating assets to aluminum producer United Co. Rusal as its terms weren’t met. The government last year supported Rusal’s purchase of IES’s Bogoslovskaya power plant and Novobogoslovskaya project to supply...
Qixing Group Acquires oneThousand Tons of Alumina
Recently, Shandong Qixing Group and Shandong Lubei Chemical Co., Ltd reached an agreement, the agreement says Qixing Group will acquire 1000 tons of alumina capacity of its branch. Shandong Wudi Qixing High-tech Aluminum Company which is the subsidiary of Qixing Group has already had 500 thousand...
Kaiser Aluminum Announces $200M Senior Debt Offering
Kaiser Aluminum Corporation plans to offer $200.0 million aggregate principal amount of senior notes due 2020 (the "notes") in a private transaction that is exempt from the registration requirements of the Securities Act of 1933 (the "Act"). The notes will be guaranteed by each of Kaiser Aluminum's...
BHP Billiton to merge its struggling nickel and aluminium units
BHP Billiton plans to merge its struggling nickel and aluminium units to make them big enough to remain within the mining giant, in a clear signal it is not planning to sell either outright. But the prospect of further sales or closures of individual nickel and aluminium assets remains. Yesterday...
Montenegro focuses on finding a strategic partner for KAP
The Montenegrin government is dedicated to resolving relations with their Russian partner when it comes to aluminium plant KAP, Prime Minister Igor Luksic told Radio of Montenegro in an interview. The country will focus on finding a strategic partner similar to the situation with another...
Sesa Goa shareholders to meet on June 19 to decide on Sterlite merger
Sesa Goa said its shareholders will meet on June 19 for approving the proposed merger of Sterlite Industries and other group firms as announced by its parent firm Vedanta Resources in February. "A meeting of the equity shareholders of Sesa Goa is being convened and will be held on June 19, 2012,...
Rio Tinto plans to seal its first Pacific Aluminium deal
By now Rio Tinto is well aware of what it’s like to own assets its register really wished it didn’t. Thankfully, a finish line appears in site for at least some of the Pacific Aluminium assets. Mining giant Rio Tinto hopes to seal its first Pacific Aluminium deal almost a year after quarantining...
Rio Tinto hopes to sell alumina plants by September
Rio Tinto hopes to seal the sale of four alumina plants in France and Germany by the end of September, the chief executive of its aluminium arm said, advancing its push to reduce its footprint in the highly competitive sector. Rio Tinto Alcan said at the end of March it had received a binding offer...
Anglo Aluminum to spin off one of its bauxite projects into new public company
Anglo Aluminum Corp. (TSXV:ALU) says it plans to spin off its Mamou-Dalaba bauxite permits into a new publicly listed company to be called Africa Bauxite Corp. The four permits that make up the Mamou-Dalaba project cover about 1,800 square kilometres in southwest Guinea. Anglo Aluminum said the...
Nicholl acquisition provides basis for continued growth
Specialist aluminium foil tray manufacturer the Nicholl Group has been acquired by Bawtry Investments Ltd for an undisclosed sum. Nicholl and its subsidiaries will continue to operate as a separate division of Bawtry under their existing management teams and maintain the Group’s long-term growth...
Competition panel nod for Vedanta Group consolidation
The Competition Commission of India has approved the amalgamation of various Vedanta Group companies in India to consolidate the structure of the firm and also to eliminate cross holding. The amalgamation of Sterlite Industries India Ltd, Madras Aluminium Company, along with its subsidiaries into...
