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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PSC Metals Inc. acquires competitors
PSC Metals Inc. today announced it's acquired the assets of two Knoxville recycling companies. The fast-growing company said it purchased Metals Solutions, a producer of secondary aluminum, and Knox Recycling Inc., a broker. Metals Solutions’ operations will be folded into PSC Metals’ operation at...
SIFCO Industries, Inc. Announces Acquisition from DBA Quality Aluminum Forge
SIFCO Industries, Inc.announces the acquisition of the business and related assets of GEL industries, Inc. (DBA Quality Aluminum Forge) ("QAF"), an aerospace component supplier located in Orange, California. The QAF business is principally known as a supplier of precision forged and machined...
Alucoil America announces new operations in Clarendon County
Alucoil America Corp., a European manufacturer of aluminum composite material and other wall cladding products, today announced new operations in Clarendon County through the purchase of Intrabond USA. An investment of more than $5 million is expected to generate 18 new jobs. The company plans to...
Rio Tinto ready to sell UK plant Alcan
Global mining giant Rio Tinto is readying to sell its aluminium smelting plant Alcan in Lynemouth, Northumberland, and is prepared to close it down if it is not sold. John McCabe from Alcan explained the reasons for the move, “Rio Tinto is streamlining its global aluminium business in order to...
Amcor on track for strong profit growth this year
Australian packaging group Amcor stood by its forecast for "substantially" higher earnings this year,expecting cost savings tied to its Alcan and Ball plastics acquisitions to outweigh rising raw materials costs. "Although economic conditions remain uncertain, the momentum of cost synergies already...
Govt readies for BALCO disinvestment
With anaemic markets putting paid to big-bang market-led disinvestment plan for the year, the government is reworking its strategy to reach closer to its Budget target of Rs 40,000 crore from the sale of its share in public sector units. A couple of options are on the table, from buyback,...
Rio Tinto trims aluminium business
Rio Tinto will sell 13 aluminium units worldwide, including refineries and smelters in Australia, as the world's second-biggest miner seeks to streamline its Alcan aluminium business. Rio Tinto said in a statement today the moves were part of a streamlining of its aluminium group following a...
Update-Jamalco alumina refinery stake sold
The Cabinet, we have been told, has signed off on the sale of the Government's 45 per cent stake in the Jamalco alumina refinery, which will remove one of the sticking points in Jamaica's negotiations with the International Monetary Fund (IMF) for the rehabilitation of its stalled standby agreement...
ENRC to buy control of Kazakh coal company for US$650m
The board of directors of Eurasian Natural Resources Corporation plc (ENRC) has agreed to exercise an option allowing the company to purchase the remaining 75% of Kazakh coal producer, Shubarkol Komir JSC for US$650 million. ENRC says the acquisition will strengthen its integrated business model by...
Chinalco Will ‘Strictly’ Control Investments
Aluminum Corp. of China, the nation’s biggest producer, said it will “strictly” control project investments and be “prudent” on acquisitions amid a slump in metal prices. The company, known as Chinalco, should “get well prepared to counter tough challenges” and ensure its financial safety amid...
EC clears CITIC bid for German aluminium casting group KSM
The European Commission has decided not to oppose the proposed acquisition by CITIC Dicastal Wheel Manufacturing, a wholly owned subsidiary of China's CITIC Group, of German automotive parts manufacturer KSM Castings Verwaltungsgesellschaft and KSM Castings Holding, the EC said Thursday. KSM...
Jamaica to Sell Alumina Refinery Stake for Up to $400 Million
Jamaica’s government expects to sell its stake in the Clarendon alumina refinery, controlled by Alcoa Inc. (AA), for as much as $400 million by the end of the year, Finance Minister Audley Shaw said. The sale of the 45 percent holding is part of a program to cut costs and reduce the fiscal deficit,...
Rio Tinto Eyeing Australia Aluminum Business Spin-off
Global miner Rio Tinto is considering spinning off part of its Australian aluminum assets as planned as carbon would raise costs, the Australian Financial Review said on Monday. Rio has been working with Macquarie Group and PricewaterhouseCoopers to consider its options for the business. Rio's...
Sapa to buy Chinese extrusion plant
Sapa is to buy the Jiangyin Haihong Non-Ferrous Materials (Haihong) aluminium profiles facility in Jiangyin, 150km north-east of Shanghai. The facility comprises 15 presses with a total capacity of 60kt and is one of the larger extrusion operations in the Yangtze River Delta region. The facility is...
Rio CFO: Eyes Non-Core Aluminum Asset Sales; Higher Ebitda Margin
Rio Tinto PLC (RIO) has identified assets within its aluminum business that could be sold off and is targeting a margin on earnings before interest, taxes, depreciation and amortization of 40% within its aluminum business, the company's chief financial officer said Tuesday. At the company's...
Norsk Hydro sells stake in alumina refinery
Norwegian aluminium producer Norsk Hydro would sell its 35% stake in a Jamaican alumina refinery partnership Alpart to Russian peer UC Rusal for NOK 250 million. Hydro said UC Rusal, the world top aluminium producer will own all the shares in Alpart when the transaction is completed in October....
Rusal To Increase Its Stake In Jamaica's Alpart To 100%
Russian aluminum producer United Co. Rusal said Friday it has agreed to buy a 35% stake in Alumina Partners of Jamaica, or Alpart, from Norsk Hydro ASA thus securing 100% control of the alumina producer. Rusal said it paid $46 million for the stake. Rusal acquired a 65% stake in Alpart in 2007...
Leucadia And Mueller Sign Deal
Leucadia National Corporation and Mueller Industries Inc. recently signed a Standstill Agreement, which is due to expire on September 2, 2013. Mueller Industries Inc. is a leading manufacturer of copper tube and fittings; brass and copper alloy rod, bar and shapes; aluminum and brass forgings;...
