Week in Review: A brief overview from the downstream aluminium industry

<p>AlCircle outlines the downstream aluminium industry developments through its weekly recap. From the past week the industry has seen many acquisitions, investments, agreements and announcement of yearly reports by some of the top players in the downstream industry. Let&rsquo;s explore the top stories covering the downstream products vertical for the week that went by:</p> <p><strong>Norican Global to acquire Light Metal Casting Solutions Group</strong></p> <p>Norican Global, a leading metallic parts enhancement company has entered into an agreement with Auctus Fund III GmbH &amp; Co. KG, and its fellow investors collectively referred to as "Auctus" to buy 100% of their shares in Light Metal Casting Solutions Group.&nbsp;</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/alu%20foundry.jpg" alt="news" width="517" height="226" /></p> <p><strong>Ma&rsquo;aden and SNAM ink cooperation agreement to increase aluminium content in vehicles</strong></p> <p>The Saudi Arabian Mining Company (Ma&rsquo;aden) and the Saudi Arabia National Automotive Manufacturing Company (SANAM) has inked an agreement for increasing aluminium usage in automotive industry in Saudi Arabia.&nbsp; &nbsp;The company is now prepared to assist the Saudi automotive industry in its goal to build a modern auto industry in Saudi Arabia.</p> <p><strong>Bonnell Aluminium acquires aluminium extrusion company in Utah</strong></p> <p>Bonnell Aluminum, a subsidiary of Tredegar Corp. has completed its acquisition of Utah-based Futura Industries Corp in order to expand their aluminium extrusion business. The company has said the acquisition value of about $92 million has been funded with its existing revolving credit.</p> <p><strong>Kaiser Aluminium reports higher net income and EBITDA margin for full year 2016</strong></p> <p>Kaiser Aluminium has announced its fourth quarter and full year 2016 result posting better numbers for both the periods. The 2016 report states net sales of $332 million in 4th&nbsp;quarter and net income is at $25 million. The company&rsquo;s full year 2016 sales result stands at $1.331 billion and net income stands at $92 million.</p> <p><strong>Hindalco to invest INR 1,000 cr to increase value added aluminium products</strong></p> <p>Aditya Birla&nbsp;Group owned&nbsp;Hindalco Industries have decided to invest INR 1,000 crore in order to expand their downstream business in next term. The company took the decision to boost overall sales of aluminium and copper value added products.</p> <p><strong>U.S. and Canada&rsquo;s shipments of sheet foil and can stock improve in January 2017</strong></p> <p>According to the monthly aluminium highlights published by Aluminium Association, U.S. and Canadian producers shipped estimated 343.8million pounds of can stock during January 2017, registering rise of 3.1 per cent YOY.</p> <p>{googleAdsense}</p> <p><strong>India's Aequs with Al-alloy forging capabilities to set up aerospace engineering facility in Goa</strong></p> <p>Aequs announced at the recently ended Aero India 2017 in Bengaluru that it will invest INR500 crore for setting up a dedicated facility for Indian defence production at Tuem, Goa. Aequs will manufacture defence aerospace components using composites and high-end alloys of aluminium, titanium, steel and other metals.&nbsp;</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Aequs.jpg" alt="news" width="517" height="226" /></p> <p><strong>UACJ Corporation announces investment to boost aluminium parts production for Tesla Model 3</strong></p> <p>UACJ Corporation, a major Japanese aluminium group, announced that it would invest about US$26 million into an aluminium part manufacturing company which it acquired last year in order to supply aluminium parts for Tesla&rsquo;s Model 3.</p> <p><strong>Danieli Fata Hunter installed aluminium rolling plants in Europe</strong></p> <p>Danieli Fata Hunter, a manufacturer of machinery for the production of aluminium strip and foil, has supplied and installed a cold rolling mill and a tension leveling line at the new Eurometal greenfield plant located in the new Kleszczow Industrial Park in Poland.</p> <p><strong>MWSD launches Xbrite+ forged aluminium wheels for European market</strong></p> <p>Motor Wheel Service Distribution (MWSD), one of the leading independent European distributors of India&rsquo;s forged aluminium wheels, has introduced the latest Xbrite+ forged aluminium wheels for the European market. The size of the Xbrite+ wheels is 17.5, 19.5 and 22.5 inch.</p>