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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Chalco Buys Winsway Stake as SouthGobi Deal Stalls
Aluminum Corp. of China Ltd. isn’t letting its stalled takeover of SouthGobi Resources Ltd. stop its coal ambitions. On Monday evening, the company, also known as Chalco, said it would buy a 29.9% interest in Hong Kong-listed Winsway Coking Coal Holdings Ltd. for HK$2.39 billion (US$307.9 billion),...
Chalco says to buy 29.9 pct of Winsway Coking Coal for $308 mln
Aluminum Corp of China Ltd said it has agreed to buy 29.9 percent of imported coking coal supplier Winsway Coking Coal Holdings Ltd for HK$2.39 billion ($307.92 million) to strengthen its downstream logistics operations. In a filing to the Hong Kong stock exchange late on Monday, the China's top...
Chalco takeover bid in jeopardy
Coal miner SouthGobi Resources (1878) saw its shares plunge after the Mongolian government suspended its licenses, sparking fears the move may scupper a takeover bid by the Aluminium Corp of China (2600), or Chalco. Earlier this month, state-run Chalco agreed to pay US$926 million (HK$7.22 billion)...
Rio Tinto May Split Off Pacific Aluminium Unit
Rio Tinto Group (RIO) may spin off its Pacific Aluminium unit and use debt secured with the assets to pay shareholders a special dividend, the Independent on Sunday said, citing a person close to the company it didn’t identify. The payment may be for as much as A$1 billion ($1.04 billion), with the...
Rio Tinto to Earn GBP 650 million Euro from Demerger Plan
Rio Tinto looks set to earn itself EUR 650 million payday by loading debt onto its Antipodean aluminium smelters business. The FTSE 100 miner has been reviewing the spin off of the assets which are run under the Pacific Aluminium banner since October. Rio's aluminium operations have hurt the...
Rio Tinto Receives Binding Offer
Rio Tinto has received a binding offer for its specialty aluminas business from H.I.G. Aperiod of exclusivity has been agreed to with H.I.G. and Rio Tinto will respond to the binding offer following consultation with the relevant European works councils. The terms of the binding offer are...
Molson Coors business expansion expects high demand for aluminium can
Last June, in an aluminum market analysis during HARBOR Aluminum Outlook conference in Chicago, Lloyd O’Carroll gave attendees an overview of the aluminum beer can market. He showed a slide containing a graph that depicted US beer consumption. “I try to do my part in this, and I’m going to keep...
SUAL sues its RUSAL partners to overturn contracts
SUAL Partners is suing Oleg Deripaska's En+ Group and Glencore International, fellow shareholders in the world's biggest aluminum producer United Company RusAl, to overturn trading contracts, according to three people with knowledge of the matter. SUAL, controlled by Viktor Vekselberg and Len...
Rusal Would Study Norilsk Sale at Right Price, New Chairman Says
United Co. Rusal (486)’s Chairman Barry Cheung, whose predecessor quit citing a “deep crisis” at the company, said the world’s biggest aluminum producer would study selling its stake in OAO GMK Norilsk Nickel at the right price. The departure of the billionaire former Chairman Victor Vekselberg,...
UPDATE 1-China's Chalco seeks Ivanhoe's South Gobi stake for $926 mln
China's aluminum producer Chalco has agreed to buy Ivanhoe Mining Ltd's controlling stake in Mongolian-focused coal miner SouthGobi Resources for $926 million, as the Chinese state company diversifies into other resources in the face of tough aluminium market. Aluminium Corp of China Ltd (Chalco)...
China's Chalco Bids for Control of Coal Miner SouthGobi
Aluminum Corp. of China Ltd., known as Chalco, said Monday it has proposed to acquire up to 60% of coal miner SouthGobi Resources Ltd. in a deal valued at up to 7.2 billion Hong Kong dollars (US$927 million). Chalco, the world's second-largest alumina producer after Alcoa Inc., said in a statement...
Danieli buys Innoval
Italian plant and equipment supplier Danieli has bought UK technical consulting group Innoval Technology. Danieli will integrate Innoval into its Danieli Aluminium Strip Division group which will also include Danieli Fröhling and Danieli Wean United. Innoval Technology will continue to operate from...
Rio Tinto Gets Offer For European Specialty Alumina Business
Anglo-Australian miner Rio Tinto said Wednesday that it entered into exclusive talks with U.S.-based private-investment firm H.I.G. Capital regarding its offer for Rio’s European specialty alumina business. The talks are in line with Rio’s strategy to restructure its aluminum business by selling...
UPDATE 2-HIG to Buy Rio Tinto's French Alumina Plants
Rio Tinto has received a binding offer from private equity group HIG for three French alumina plants that are part of an estimated $8 billion of aluminum assets put up for sale last year by the global miner to try to boost margins. Rio Tinto said on Wednesday it had agreed a period of exclusivity...
Rio Says Trade, Private Equity Eye Aluminum Assets
Rio Tinto has seen "quite a lot" of interest in aluminum operations earmarked for sale last year, despite tough market conditions, and is preparing the estimated $8 billion of assets for a variety of options, including a stock listing. Rio signalled a major retreat from its aluminum business last...
Aleris Corp Sees IPO Size At 31.25M Shares
Aluminum processor Aleris Corp. estimated the size of its initial public offering at 31.25 million shares. The company filed plans last April for an estimated IPO of up to $100 million to fund general corporate purposes, including working capital, capital expenditures, the construction of an...
Deripaska ready to buy RUSAL's Norilsk stake: source
Russian tycoon Oleg Deripaska is ready to buy RUSAL's (0486.HK) 25 percent blocking stake in Norilsk Nickel (GMKN.MM) to resolve a shareholder dispute at the world's largest aluminium producer, a source close to the RUSAL board said on Monday. Deripaska's gambit seeks a way out of a row with...
Reliance Steel & Aluminum Co. Signs Agreement to Acquire Assets of Worthington Steel Vonore Plant
Reliance Steel & Aluminum Co. RS +0.97% announced today that its wholly-owned subsidiary Precision Strip, Inc. has signed an agreement to acquire substantially all of the assets of the Worthington Steel Vonore, Tennessee plant, a processing facility owned by Worthington Industries, Inc. WOR +1.78%...
