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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BHP may sell aluminium units: report
BHP Billiton Ltd chief executive Marius Kloppers has said the miner may consider selling its under-performing aluminium units as their role in the company weakens against robust growth in the iron ore, copper, coking coal, potash and petroleum sectors, according to a report by The Australian. The...
Sapa closes deal for Chinese extrusion plant
Sapa has closed the deal to buy an extrusion plant near Shanghai, China. The plant, 150km north west of Shanghai, will be operated by Sapa’s management and will conduct business under the name Sapa Profiles Jiangyin Co Ltd. The plant has 15 presses with a production capacity of 60kt/y and has...
Indonesia's Toba Sejahtera to buy Inalum shares worth $700 mln
Indonesian thermal coal miner Toba Bara Sejahtera plans to buy shares in aluminum firm PT Inalum worth $700 million, Toba Sejahtera founding chairman Luhut Panjaitan said on Tuesday. The coal miner aims to acquire 58.88 percent of the shares from Nippon Asahan Aluminium, a consortium of 12 Japanese...
Govt to retain its stake in Balco for now
An Empowered Group of Ministers (EGoM) today decided to maintain status quo with regard to its remaining 49 percent stake in aluminium maker Balco. Vedanta Group firm Sterlite Industries holds 51 percent stake in Balco. According to sources, Vedanta chief Agarwal had written a letter to Prime...
Jakarta Earmarks Rp 2t for Inalum as Part of Drive to Take Back Commodities
The government has set aside Rp 2 trillion ($220 million) to buy a majority stake in Indonesia Asahan Aluminium from Japan’s Nippon Asahan Aluminium. The Indonesian government, through its Government Investment Center (PIP), will take funds from next year’s state budget to finance the purchase of...
US can maker seeks to acquire troubled Hungarian peer for €14m
US-based extruded aluminium can maker Exal Corporation has reached an agreement to acquire troubled Hungarian peer Szenna Pack for €14m and pay off some of its debts, consultancy KPMG Hungaria said on Tuesday. Family-owned Szenna Pack filed for bankruptcy protection in July because of a...
Rio faces tough aluminium questions
Rio Tinto tried to tell investors how strong their aluminium business was on Monday but instead faced a barrage of questions about how quickly they could get rid of it. The aluminium division is expected to break-even in the second half of 2011 compared to a $US1.4 billion ($A1.43 billion)...
Rusal grabs stake in Chinese trader
Rusal, the world's top aluminum maker by output, has signed an agreement with Chinese corporation Norinco to acquire a 33% stake in its aluminum sales unit Shenzhen North Investments. The deal is expected to be closed on January 31, 2012 pending clearance from regulators. The Russian aluminum giant...
Belgian Holding Famo (Sapim) Takes Over Ryde International (Rigida)
Ryde International, formerly known as Rigida International, the leading manufacturer of aluminum and stainless steel rims for bicycles, announces that it has been taken over by the Belgian holding company Famo NV of the Moorkens family. Famo NV is an industrial investor having participations in...
Rio Tinto receives Canadian Competition Bureau clearance for its offer for Hathor Exploration
Rio Tinto today received Canadian Competition Bureau clearance for its offer, made through an indirect wholly-owned Canadian subsidiary, to acquire all the common shares of Hathor Exploration Limited ("Hathor") for C$4.70 in cash per common share. The Commissioner of Competition issued a "no action...
Novelis Buys Out Korean Subsidiary for $350 Million
Aluminum products and recycling firm Novelis Inc. has purchased nearly all of the outstanding shares in its Korean subsidiary for $350 million in cash. Novelis on Nov. 17 announced a deal with Taihan Electric Wire Co. Ltd. and other shareholders to buy 31.2 percent of the company, a move that would...
CANADA: Magna unit Cosma acquires aluminium castings operations
Cosma International, an operating unit of Magna International, has signed an agreement with the shareholders of the BDW technologies group under which Cosma will acquire BDW's four operations. BDW is a vacuum high-pressure aluminum die caster and expects full year 2011 sales of approximately...
Minmetals eyes Bauxite Alumina deals
Bloomberg reported that Minmetals Resources Limited, backed by China's biggest metals trader, is transforming companies from Mirabela Nickel Limited to Alumina Limited into takeover targets as it eyes a total of USD 7 billion of deals including bauxite and alumina deals. Mirabela, which controls...
S&B Ind.Minerals SA : INITIAL AGREEMENT FOR THE GRADUAL ACQUISITION OF S&B's GREEK BAUXITE OPERATIONS BY ALUMINIUM S.A.
INITIAL AGREEMENT FOR THE GRADUAL ACQUISITION OF S&B's GREEK BAUXITE OPERATIONS BY ALUMINIUM S.A. 8 November 2011 - MYTILINEOS Holdings S.A. and S&B Industrial Minerals S.A. ("S&B") announce the initial agreement for the gradual acquisition of S&B's bauxite operations in Greece by MYTILINEOS' fully...
China’s Minmetals Resources Scrambles To Extend Life of Mines, Eyes Mirabela Nickel, Alumina
Scrambling to extend the life of its mines, four of which are set to conclude by 2020, China's Minmetals Resources Ltd. is on the prowl to acquire Australia-based miners Mirabela Nickel Ltd. and Alumina Ltd., with a $7 billion to boot to capture the two companies' nickel, bauxite and alumina...
Mirabela Takeover Seen With Minmetals Chasing Nickel: Real M&A
Minmetals Resources Ltd. (1208), backed by China’s biggest metals trader, is transforming companies from Mirabela Nickel Ltd. (MBN) to Alumina Ltd. into takeover targets as it eyes $7 billion of nickel, bauxite and alumina deals. Minmetals, which agreed a month ago to buy copper producer Anvil...
SIFCO Industries Acquires Business and Associated Assets of Aerospace Component Supplier
SIFCO Industries has declared that it has closed the purchase of the business and associated assets of GEL industries, an Orange, California-based supplier of aerospace components doing business as Quality Aluminum Forge, on October 28, 2011. The Quality Aluminum Forge business offers precision...
Abengoa acquires 38% stake in its aluminum waste recycling business from Qualitas Venture Capital
Abengoa acquires 38% stake in its aluminum waste recycling business from Qualitas Venture Capital The acquisition is worth €34 million. The deal will give Abengoa 98.25 % ownership of the business. Seville, November 2, 2011. Abengoa, the international company that applies innovative technology...
