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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Sumitomo completes Arco Aluminum purchase; now called Tri-Arrows
The purchase of US aluminum sheet maker Arco Aluminum by a Japanese consortium was completed Monday, and the company is now operating under the name of Tri-Arrows Aluminum Inc.
China Nonferrous Metal Increases Stake in Terramin
China Nonferrous Metal Industry's Foreign Engineering and Construction Co said on Monday that it would increase its stake in Australian miner Terramin Australia Ltd in a deal worth 32.35 million yuan ($5 million).
Maan Aluminium
Maan Aluminium Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 27, 2011, inter alia, has transacted the following: - "In Principle" approval was accorded to the merger of SMW Metal Pvt. Ltd. with the Company, with effect from April 01, 2011, subject to...
Reliance Steel raises credit facility to $1.5 bln
Reliance Steel & Aluminum Co said it raised its credit facility by 36 percent to $1.5 billion, as the metals processor looks to acquire smaller peers.
Hydro sells stake in Norwegian power producer
Norsk Hydro plans to sell its 20.86% ntake in northern Norwegian power producer SKS Produksjon to Salten Kraftsamband for NOK1bn. The sale does not affect Hydro’s ownership of 9.4 TWh of annual power production in Norway.
Sapa Profiles’ review
Sapa Profiles’ has informed its employees in Belgium, The Netherlands and Portugal of its intention to consolidate the capacity in those countries. It has started a consultation process with employee representatives. It said the restructuring proposal intends to ensure the long term competitiveness...
U.S. Aluminum is back in business, says CRL president
As of yesterday, we are back up and running at all but one U.S. Aluminum facility. We are moving the Los Angeles facility to a new building across the street from our manufacturing headquarters, and we anticipate opening in the next week or so. The other nine facilities were open for business...
Indonesia to Shell Out $700m for Inalum
The government said on Tuesday that it would spend $700 million to buy the stake held by Nippon Asahan Aluminium in their joint venture Indonesia Asahan Aluminium. The government will purchase NAA’s 58.9 percent stake in the firm known as Inalum before its working contract ends in 2013, Industry...
C.R. Laurence Co., Inc. (CRL) Announces Acquisition of U.S. Aluminum Company (USAL)
C.R. Laurence Co., Inc. (CRL), a leading global supplier to the glazing, railing, architectural, construction, industrial, and automotive industries, is pleased to announce the acquisition of U.S. Aluminum Company, formerly a part of the International Aluminum Group.
Inalum Next Target for Divestment, Indonesia Govt Says
With a stake sale of gold miner Newmont Nusa Tenggara in limbo, the government has set its eyes on the divestment in 2013 of another company controlled by foreigners — Indonesia Asahan Aluminium. “Is there a plan to buy shares in companies similar to Newmont? I think, yes,” said Soritaon Siregar,...
Reliance Steel Aluminum to acquire Continental Alloys Services
Reliance Steel & Aluminum Co announced that it has reached an agreement to purchase all of the outstanding capital securities of Continental Alloys & Services Inc, headquartered at Houston in Texas and certain affiliated companies. The transaction is expected to be finalized within 30 days, subject...
DJ Venezuela In Talks with 6 Japanese Cos For Stake In Venalum
The Venezuelan government said Thursday that it is in talks to buy a 20% stake in state aluminium producer CVG Venezolana de Alumino,or Venalum,which is currently held by 6 Japanese companies. In a statement on its website, the Ministry of Basic Industries and Mining said it had begun negotiations...
C.R. Laurence Co., Inc. (CRL) Announces Acquisition of U.S. Aluminum Company (USAL)
USAL to be Rebuilt with New Leadership and Energy. C.R. Laurence Co., Inc. (CRL), a leading global supplier to the glazing, railing, architectural, construction, industrial, and automotive industries, is pleased to announce the acquisition of U.S. Aluminum Company, formerly a part of the...
Glass Businesses Discuss what CRL’s Purchase of U.S. Aluminum Could Mean for the Industry
The commercial glass and glazing industry has continued to speak out about last Friday’s news that Los Angeles-based C.R. Laurence Co. Inc. (CRL) had acquired U.S. Aluminum. And while many say their first reaction was one of surprise, they also expect the move to be a positive one for the industry,...
Vimetco wants to sell up to 21 percent of its shares in Romanian aluminium producer Alro Slatina
Aluminium producer Vimetco will postpone the secondary public offering (SPO) of Alro Slatina shares on the Bucharest Stock Exchange (BSE), “due to adverse market conditions”, the group announced on Friday. “The company believes it is not in the best interests of Alro or its shareholders to proceed...
Parekh Aluminex to offload 35% stake via preferential issue
Aluminum foil containers maker Parekh Aluminex Ltd is looking to raise as much as Rs 100 crore ($22 million) through a preferential allotment to a host of overseas funds including Kitara Capital. The public listed firm is holding an extraordinary general meeting on July 25 for seeking the approval...
Speculation surrounds Century plant
Rumors are increasing that the closed Century Aluminum plant in Ravenswood may be sold soon, an industry trade publication reported last week. However, at least one analyst says that, not only does a sale not make sense right now, but there's no good reason why the shuttered aluminum smelter...
Shen Huo Coal to fully acquire Shenhuo Aluminum
Capitalvue reported that Henan Shen Huo Coal Industry and Electricity Power, a producer of coal, aluminum products and electricity will acquire 30.62% stake in Shen Huo Aluminum for CNY 383 million. Upon the completion of the transaction, Shen Huo Aluminum will become a wholly owned subsidiary of...
