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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Orkla mulls divesting Sapa aluminum unit
Norwegian conglomerate Orkla ASA will discuss whether to sell Swedish aluminum company Sapa at its board meeting Wednesday, Norwegian business daily Dagens Naeringsliv reports Monday. Orkla's chairman and main owner, Stein Erik Hagen, has for a long time wanted to sell Sapa, which has 14,000...
Niche metal firm Ess Dee Aluminium forges on path to profit
About a decade and a half ago, when the country was witnessing big investments in telecom, IT and consumer goods, these young, first-generation industrialists, mostly based in the mineral-rich eastern states, started rolling out niche products for which competitors were few and the returns high....
Hydro Celebrate 25 Years in the Aluminium Business
A very successful merger. This is how most people would characterize the new company - Hydro Aluminium - born in Norway 25 years ago, on September 1, after the merger with ÅSV. It was the day that brought to life a Norwegian aluminium giant with a strong base in the European market. Hydro's...
Sequoia increase stake in Ess Dee Aluminium
It is reported that Sequoia Capital India has picked up an additional 1.46% stake in packaging firm Ess Dee Aluminium Ltd from the open market. The venture and growth capital investor has now increased its stake to over 6.3% in the Mumbai based Ess Dee which makes packaging materials used by...
Two RUSAL partners seek to sell out-paper
Two partners in the world's top aluminium producer, UC RUSAL , want to sell their stake to a third tycoon, Alisher Usmanov, owner of an iron ore miner and shareholder in Norilsk Nickel , Vedomosti reported on Friday. Viktor Vekselberg and Len Blavatnik, who merged their aluminium assets with RUSAL...
Norilsk Nickel Board Approves RUSAL Buyback Offer
Norilsk Nickel , the world's largest nickel and palladium producer, has approved an $8.75 billion offer to buy back its shares from Russia's RUSAL in a bid to resolve a bitter shareholder dispute. The $306 per share offer for a 15 percent stake, which represents a 20 percent premium to the weighted...
Perpetual buys 25m Alumina shares
Perpetual Ltd bought a net 24,956,844 Alumina Ltd shares between July 28, 2011 and August 19, increasing from 122,169,825 shares (5.01%) to 147,093,709 shares (6.03%).
Sequoia Ups Stake In Ess Dee Aluminium
The venture and growth capital investor has now increased its stake to over 6.3 per cent in the Mumbai-based company. Sequoia Capital India has picked up an additional 1.46 per cent stake in packaging firm Ess Dee Aluminium Ltd from the open market. The venture and growth capital investor has now...
Chinalco Promises to Eliminate Horizontal Competition with JiaoZuo WanFang
Shanghai Security News announces that Chinalco Promises to eliminate horizontal competition with JiaoZuo WanFang (000612) within five years. Data indicate that as a giant shareholder of JiaoZuo WanFang, Chinalco holds 24% shares of JiaoZuo WanFang while JiaoZuo WanFang itself only accounts for...
CRL gives a glimpse of the new U.S. Aluminum
U.S. Aluminum, now a division of C.R. Laurence Co., is up and running with 11 service center and manufacturing locations across the United States and Canada, according to an Aug. 19 company release. C.R. Laurence acquired U.S. Aluminum in July. "We acquired [U.S. Aluminum] with the intention of...
Norilsk Nickel Offers to Acquire 15% Stake Held by Rusal for $8.75 Billion
OAO GMK Norilsk Nickel offered to buy back a 15 percent stake held by United Co. Rusal for $8.75 billion as billionaires Vladimir Potanin and Oleg Deripaska battle for control of the world’s largest nickel producer. The offer to 25 percent-shareholder Rusal amounts to $306 a share, a 20 percent...
How $3.2b ALSCON was sold for $130m – BFI Group
Fresh facts have emerged on how government-owned Aluminium Smelting Company of Nigeria (ALSCON) Ikot Abasi, Akwa Ibom State, set up with $3.2 billion, was sold to a Russian firm, Russal, for a paltry $130 million. This was disclosed to the Senate Ad-hoc Committee probe panel led by Senator Ahmad...
Norilsk Nickel, RUSAL clash over share buyback
The board of Russian metals group Norilsk Nickel has approved a new share buyback and was swiftly criticised by aluminium group UC RUSAL for acting in the interest of long-time rival shareholder Interros. Norilsk said on Monday it has yet to decide the number of shares to be purchased and their...
ALSCON sale: BFIG – RUSAL controversy resonates
The controversy over the 2004 sale of the Aluminum Smelting Company of Nigeria, ALSCON, Ikot Abasi, Akwa Ibom State, resonated yesterday as the original Preferred Bidder in the privatisation process, BFIGroup of America insisted that BPE fraudulently sold the company to RUSAL against its own rules.
ALSCON sold for N37.5bn, DSC for N4.5bn – BPE
THE Senate ad-hoc committee probing the privatisation and commercialisation activities of Bureau of Public Enterprise, BPE, yesterday commenced with revelations that the Aluminium Smelting Company of Nigeria, ALSCON, which was valued at $3.2 billion (N480 billion) was sold to a Russian company,...
Rio Tinto, Mitsubishi Corp. Offer $1.55 Billion for Rest of Coal & Allied
Rio Tinto Group, the world’s second- biggest mining company, and Mitsubishi Corp. (8058) offered A$1.49 billion ($1.55 billion) for the shares in Coal & Allied Industries Ltd. (CNA) they don’t own to take the coal miner private. Rio and Mitsubishi, which own stakes of 75.7 percent and 10.2 percent...
Reliance Steel closes deal for Continental Alloys
Reliance Steel & Aluminum Co. said on Wednesday that it has acquired the rest of Continental Alloys & Services Inc. and affiliated companies.
On verge of finalising an acquisition in1-2 weeks: NALCO
BL Bagra: Yes. We are just finalising our study of the due diligence on one of the bidders. In next one or two weeks, we will be taking call. So we are on the verge of the finalisation of that evaluation.
