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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Austrian investor Pecik eyes AMAG stake-report
Investor Ronny Pecik intends to take a stake in Austrian aluminium group AMAG and has been sounding out potential partners to raise money for a deal, Format magazine reported on Friday, citing unnamed banking sources. Main owner CP Group 3, a joint venture between One Equity Partners (OEP) and...
Vedanta Resources group may merge iron ore firm Sesa Goa with copper and aluminium maker Sterlite Industries
The Vedanta Resources group may merge iron ore firm Sesa Goa with copper and aluminium maker Sterlite Industries as it tries to simplify a complex corporate structure and deal with challenges to its main businesses. The exercise, which is still on the drawing board, will create agiant metals and...
Merger Agreement between Hormozal and Almahdi Reduced costs
The merger agreement signed between two of Iran’s biggest aluminium producers on the 19th of December 2010 with the aim to reduce costs was a success says Akbar Golkar CEO of Almahdi Aluminium Co. Almahdi and Hormozal have the capacity to produce 110000 and 145000 tpy of aluminium respectfully....
Montenegro says to take over indebted aluminium plant
Montenegro's government said on Thursday it would launch a procedure to take full control of the Adriatic country's heavily indebted aluminium plant, in which it shares a controlling stake with Russia's EN+ company. The government made the move after it was forced last week to assume a 132...
Alcan Proves Costly to Rio Tinto
Rio Tinto's $8.9 billion write-down on its Alcan aluminum division casts a pall over the struggling aluminum sector and offers a cautionary tale to mining companies contemplating big buys, the most significant being Glencore International AG and Xstrata PLC's current plans to combine into an $80...
Rio Tinto Says Its not right Time for Aluminum Unit Sale
Global miner Rio Tinto said now was not the right time to be trying to sell its Pacific Aluminum business, which it is looking to spin off after taking an $8.9 billion writedown on its aluminum business. "At present these are tough conditions to be selling aluminum assets," Chief Financial Officer...
Rio may have to accept a cut-price deal to sell Pacific Aluminium
RIO Tinto may have to swallow a cut-price deal if it wants to get the sale of its aluminium division away. That’s the view of Deutsche Bank analysts who have slashed their valuation of Rio’s interests in six Australian and New Zealand aluminium assets to $US4.4 billion ($4.1 billion). The new...
UC RUSAL to increase its stake in Yaroslavsk GRK to 100%
UC RUSAL (SEHK:486, Euronext: RUSAL/RUAL, MICEX: RUALR, RTS: RUALR), the world's largest aluminium producer, is pleased to announce that it has entered into an agreement to acquire 50% of OOO "Yaroslavsk GRK" (Yaroslavsk Mining Company) from Russian Mining Company (RGRK). Following completion of...
Vedanta offers to buy govt stake in group firms
Metal and mining firm Vedanta Resources has offered to buy out the government’s residual minority stake in its group firms Bharat Aluminium Co. Ltd (Balco) and Hindustan Zinc Ltd (HZL), according to an official familiar with the development. “They have written a letter. They have given us an...
Grey Mountain acquires Custom Components
Grey Mountain Partners has acquired Custom Components Company, a niche building materials manufacturer, fabricator and supplier of aluminium, stainless steel and glass architectural engineered products. Beth Lesniak, Vice President of Grey Mountain, says: "The combination of Global Security Glazing...
Glencore considering Portovesme acquisition?
Glencore International Plc has confirmed its intention to assess the possible industrial and market prospects of Alcoa’s plant in Italy, the country's industry ministry said. Reuters reports Italy is looking for new investors to take over an the Portovesme aluminium smelter in Sardinia, which the...
Trademark Metals Acquires Gulf Coast Metals
Trademark Metals Recycling (TMR), a wholly owned subsidiary of The David J. Joseph Company (DJJ), a Cincinnati-based subsidiary of Nucor Corp., has purchased the assets and business of Gulf Coast Metals, headquartered in Tampa, Fla. Gulf Coast Metals, established in 1981, operates four facilities...
Sterlite to push govt on HZL
With the government agreeing to consider Sterlite’s fresh offer to buy the residual stake in Bharat Aluminium Company Ltd (Balco) at a mutually agreeable price, a resolution of the long stand-off between Vedanta Resources and the central government is in sight. Sources familiar with the development...
Rusal Challenges Norilsk’s $4.5 Billion Buyback in Russian Court
United Co. Rusal (486), the world’s largest aluminum producer, filed a claim in a court in Russia’s Krasnoyarsk region challenging a $4.5 billion share buyback by OAO GMK Norilsk Nickel. The aluminum company wants the court to annul decisions by Norilsk’s board on Sept. 13 and Sept. 21, a statement...
Sterlite favours mutually agreed price for buyback
Vedanta group company Sterlite has favoured a mutually agreed price for buying back the Government's residual stake in aluminium company Balco. For Hindustan Zinc, it has requested adoption of the formula devised by the Securities and Exchange Board of India's (SEBI). At present, the Government has...
Ardagh in talks on two more buys
Packaging group Ardagh has announced plans to raise money to help fund further acquisitions. Following the recent €85m deal to buy aluminium packaging firm Boxal, Ardagh said today it was in "advanced" talks on the potential acquisition of two other unrelated businesses. The company said it planned...
Resources sector leads the way as Australian shares recover
THE resources sector led a broad-based recovery in the Australian sharemarket yesterday, after China's Shanghai Composite continued to improve and Wall Street edged higher despite falls on European markets. Takeover activity helped the market, although some strategists warned of a challenging year...
Australia Shares End Up 1.1%; Resources Lead Recovery
The resources sector led a broad-based recovery in the Australian share market Tuesday after China's Shanghai Composite continued to recover and Wall Street edged higher in spite of falls on European markets. Takeover activity helped the market, although some strategists warned of a challenging...
