Novelis Inc., the world’s leading producer of aluminum sheet for automobiles, has seen an increase of more than 20 percent in the number of automotive applications of its lightweight material compared to a year ago. About 90 models of cars and light trucks today use Novelis aluminum sheet for a variety of body panels or structural parts. “While sales of our auto sheet have been impacted... Read more..
China Gengsheng Minerals, Inc., a materials technology company in China with products capable of withstanding high temperature, saving energy and boosting productivity in certain industries such as steel and oil, today announced that Henan Gengsheng Refractories Co., Ltd., its wholly owned subsidiary, has signed a $2.9 million (RMB 20 million) short-term loan agreement with the Industrial and Commercial... Read more..
Alcoa announced it has agreed with ORKLA ASA to exchange their stakes in a Norwegian smelting partnership and a Swedish extrusion joint venture in order to focus on their respective areas of expertise and best practices. Alcoa will receive Orkla’s 50 percent stake in Elkem Aluminum ANS while Orkla will receive Alcoa’s 45 percent stake in the $3.7 billion SAPA extrusion profiles business. The transaction... Read more..
Rio Tinto Alcan is revising its participation from an equity partner in the integrated aluminum “mine-to-metal” project in Saudi Arabia to the role of working with Saudi Arabian Mining Company (Ma’aden) towards project development through a smelter technology transfer agreement and a cooperation agreement. “Going forward, our partnership will be one of cooperation rather than... Read more..
Noranda Aluminum Holding Corporation today announced a company-wide workforce and business process restructuring that will reduce Noranda’s operating costs, conserve liquidity and improve operating efficiencies. This restructuring is expected to generate cash cost savings and operating efficiencies through the work force reduction of approximately $23 million annually. “Noranda remains committed... Read more..
Thresher Industries, Inc. announce that the Company is expanding its sales and marketing initiative to increase its clientele throughout the United States. The Company is seeking sales representatives to promote its products and introduce its service to a variety of new clients across several vertical markets. The Company is launching its new initiative to stimulate long-term domestic growth. Thresher... Read more..
Aleris International, Inc. announced today that it will be permanently closing its Tipton, Indiana specification alloys facility, effective today. As previously announced, production at this facility was idled on March 30, 2008. Prior to idling production, the facility employed approximately 55 people. Production has been transferred to other Aleris facilities in North America. Aleris will continue... Read more..
On account of reduced demand and uncertain market prospects, BE Group is implementing a cost saving programme. The aim is to reduce total annual costs by approximately SEK 100 million over a two-year period. The number of employees is expected to be reduced by around 120 and the reduction will be implemented primarily in Sweden, Finland, Poland and Latvia. However, other markets will also be affected.... Read more..
Aleris International, Inc. announced today that it will be idling one of the coil coating lines at its Roxboro, North Carolina facility effective December 1, 2008. The Roxboro coil coating facility supplies coated aluminum coil for building and construction, transportation, distribution and consumer durables applications. This action will affect 45 salaried and hourly employees at the facility and... Read more..
Alcoa announced that it is featuring numerous examples of how green buildings start with Alcoa aluminum at the Greenbuild International Conference and Expo, which starts today in Boston. The Alcoa booth (#126) provides an overview of the many aluminum products that help the building and construction industry make strides in reducing energy consumption and emissions in their projects. The Alcoa exhibit... Read more..