Highfields to acquire 8 percent of Alcoa

Aluminum producer Alcoa Inc. has recently reported that it has received official notice from Highfields Capital Management of its intention to acquire up to 8 percent of the company’s common shares. The stake includes about 2 percent of Alcoa’s common shares that Highfields’ affiliated... Read more..

Tag: highfields mines

Alcoa and Kleinfeld Statements Regarding Siemens Matter

Since the start of discussions with Mr. Kleinfeld about his taking a position with Alcoa, the company and its board have sought and received extensive information regarding the Siemens matter. Alcoa continues to monitor the situation, and believes no further comment or action is warranted or necessary... Read more..

Tag: regarding this matter

Sterlite Industries (India) Limited;First Quarter Ended 30 June 2008

Sterlite Industries (India) Limited is reported by the media that the company has announced its results for the first quarter ended 30 June 2008 (“Q1”). Here are the highlight of the report: * Refined zinc and lead production at 128,000 tonnes and 17,000 tonnes, an increase of 38% and 27% respectively ... Read more..

Globe Specialty Metals, Inc. Files Registration Statement with the SEC for an Initial Public Offering

Globe Specialty Metals, Inc. announced that it has filed a registration statement with the U.S. Securities and Exchange Commission for a proposed initial public offering in the United States of its common stock. A portion of the shares of common stock to be offered are proposed to be issued and sold... Read more..

Tag: globe speciality metals daniel krofcheck

Rio Tinto is seeking to secure power supplies

It has recently reported by the media that Rio Tinto is seeking to secure power supplies for its primary aluminium smelter in Britain beyond the expiry of its present contract at the end of 2009, a company spokesman said on Thursday. (Advertisement) “We’re still negotiating and hoping we... Read more..

Metaldyne Enhances Product Focus by Seeking to Divest Two Facilities in North America

As part of the strategic focus developed under its Plan to Win program, Metaldyne Corporation, an Asahi Tec company, today announced it will seek to divest its Middleville, Mich., and Niles, Ill., facilities. The decision is the result of a comprehensive product review conducted as part of the Plan to... Read more..

Alcoa Announces Dividend

The Board of Directors of Alcoa declared (a) a quarterly common stock dividend of 17 cents per share payable August 25, 2008 to shareholders of record at the close of business on August 8, 2008 and (b) a quarterly dividend of 93.75 cents per share on Alcoa’s $3.75 cumulative preferred stock payable... Read more..

Alcoa Electrical and Electronic Systems to Restructure Honduran and Mexican Operations Serving North American Auto Market

Alcoa announced that its Alcoa Electrical and Electronic Systems (AEES) business has initiated a restructuring of its Honduran and Mexican operations serving the North American auto market as a result of continued market softness. In total, the workforce reduction across the Honduran and Mexican operations... Read more..

Sterlite and Unions Reach Agreement On Terms Of Collective Bargaining Agreement For Asarco Llc

The unions representing the workers of ASARCO LLC (“ASARCO”), and Sterlite Industries (India) Limited (“Sterlite”) (NYSE:SLT), a subsidiary of Vedanta Resources plc and a party to an agreement to acquire substantially all assets of ASARCO, jointly announced today that they have reached agreement... Read more..

Alcoa’s 2Q profit sinks 24 percent on higher costs

Aluminum producer Alcoa Inc. said its second-quarter earnings fell nearly 24 percent as higher prices failed to offset raw material and facility outage costs. The Pittsburgh-based company earned $546 million, or 66 cents per share, for the quarter that ended June 30, compared with $715 million, or 81... Read more..