Aluminium International Today News

Rio Tinto receives Alcan bid

Published: September 03, 2010 by Greg Morris

The offer is from Apollo Global Management (Apollo) and the Fonds Stratégique d’Investis-sement (FSI) but does not include Alcan’s Cable division.

Under the terms of the deal, Apollo would become the majority and managing shareholder in AEP with a 51% stake in a new holding company for…

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Hydro posts improved results

Published: September 03, 2010 by Greg Morris

Hydro CEO Svein Richard Brandtzæg attributed the improved results to higher prices and sales, combined with firm margins and tight cost control in a seasonally strong quarter.

Hydro’s alumina and raw materials business showed improved results, mainly due to the Alunorte alumina refinery…

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Novelis record

Published: September 03, 2010 by Greg Morris

Net sales for the quarter were $2.5bn, an increase of 29% compared to $2bn from the quarter the year before. It also cited higher aluminium prices for the increase.

Ebita was a record $263M – a 112% increase from its Ebita of $124M a year ago – and is its highest Ebita in its…

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Hindalco profit rise

Published: September 03, 2010 by Greg Morris

Driven by higher volumes, better product/geographic mix and improved realisation, net sales grew 33% to INR51bn ($1.1bn).

Out of this, the aluminium business contributed INR18bn ($390M). The company said its Utkal Alumina subsidiary, had tied up INR49bn ($1.06bn) debt from a group of 28…

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Chinalco iron ore deal

Published: September 03, 2010 by Greg Morris

The move also marks the end of the stalemate between China and the global miner on cooperation after ties soured in June this year.

The Simandou project will have a production capacity of 70Mt/y. Chinalco is still Rio’s largest shareholder with a 9.3% stake. The Chinese company signed a…

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Japanese boost

Published: September 03, 2010 by Greg Morris

Supplies to domestic and export markets expanded to 179941t from 158605t a year earlier, the Japan Aluminium Association said in a statement. The growth was led by demand from auto and electronics makers.

“Shipments are going well at the moment,” Masateru Yoshihara, the association’s…

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