✅ One more step complete! Earlier today, the Federal Court of Australia approved #Alcoa's proposed acquisition of Alumina Limited. The expected closing date of this deal is August 1. Important information: https://bit.ly/49DxtXP
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✅ One more step complete! Earlier today, the Federal Court of Australia approved #Alcoa's proposed acquisition of Alumina Limited. The expected closing date of this deal is August 1. Important information: https://bit.ly/49DxtXP
Amazing news!
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We’ve just Updated our Page. Visit our Page to see the latest updates. #groupofcompanies #tradingcompanies #manufacturingcompanies #plantandmaintenance #exportandimport
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The Philippines' Consunji family, through DMCI, Semirara and Dacon, will acquire Cemex Philippines, country's fourth-largest cement manufacturer, for $305.6 million after months of negotiations. The deal is part of Cemex Asia's wider divestment of its Philippine operations including full equity in Cemex Asian South East Corporation and subsidiaries APO Cement and Solid Cement for $660 million, minus debt. For the Consunji family, it will mark their entry into the cement business challenged by overcapacity and cheaper imports. My story on Reuters News Agency https://lnkd.in/gtPa39fs
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Are Italy's new measures poised to revolutionize the procurement of its critical raw materials? Prime Minister Giorgia Meloni and Business and Made in Italy Minister Adolfo Urso lead the charge, prepping for a potential increase in domestic raw material extraction. #RawMaterials #GreenEconomy #CircularEconomy
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Vimetco ALRO, one of the largest vertically integrated aluminium producers in Europe, measured by production capacity, announces its consolidated and separate financial results for the six months ended 30 June 2024. The Group’s turnover increased to RON 1.697 billion in H1 2024, compared to RON 1.559 billion in H1 2023, as a result of improved LME quotations and higher sales of value-added aluminium products. The Group registered a net profit of RON 8.4 million in H1 2024, compared to a net loss of RON 164 million in H1 2023. “The investments we made in technology, operational efficiency, portfolio diversification and capturing new markets helped us even better capitalise the upturn that the aluminium market registered in the first six months of this year, with direct effect on the final result. Our focus on portfolio diversification, with accent on high and verry high added-value products translated in a record increase of almost 60% in the production for flat rolled aluminium in the first half of this year, compared to the same period of 2023, with the entire processed aluminium production increasing by 31% during the period”, said Marian Nastase, Chairman of the Board of Directors, ALRO. “And even if the overall market evolution was positive in the first half of this year, by the end of the second quarter we witnessed a slight downturn in quotations, that persisted in the following months. That keeps us cautious and focused on further improving our operational efficiency, bearing in mind that the effects of the multiple crises we faced over the past years are still present in our day-to-day operations”, added Marian Năstase. https://lnkd.in/eTM2TsqC
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Alcoa engages with Spanish government regarding San Ciprián complex Representatives from Alcoa Corporation's Spanish operating subsidiaries will be convening with the national and regional authorities in Spain this week to deliberate the financial losses at the San Ciprián complex, which comprises an alumina refinery and an aluminum smelter. This is part of a prearranged series of meetings with significant stakeholders. The San Ciprián smelter was curtailed in January 2022 as a result of an agreement with the workers’ representatives in December 2021. In February 2023, Alcoa agreed to a phased restart of the aluminum smelter to begin in January of 2024 via an amended Viability Agreement. The refinery has been operating at 50 percent of its capacity since the third quarter of 2022 to mitigate losses. The economics for both the smelter and the refinery have continued to worsen. Since the smelter’s curtailment, the long-term cost for energy remains uncompetitive while the permitting and development of alternative energy supplies, supported by Alcoa’s signed power purchase agreements, have been delayed. Also, the Company has experienced market challenges that include the impact from the slowdown in Europe and lower sales prices. Despite this, the Company continued to comply with the terms of the Viability Agreement, investing $65 million toward those obligations in 2023. “We’ve been working to abide by all of the commitments contained in the Viability Agreement, including making capital investments, but the current situation remains severely challenged,” said Alcoa President and CEO William Oplinger. “We are resolved to continue conversations with the government and workers’ representatives in a collaborative manner as we look to a long-term solution.” When the original and amended Viability Agreements were signed, Alcoa had sufficient funding to honor all its commitments. Based on current and foreseeable economic conditions, however, solutions are needed for the long term to deal with the unsustainable business conditions at the San Ciprián operations. The Company is asking the regional and national governments to identify all potential forms of relief and work collaboratively on a long-term solution. https://lnkd.in/e4eFuArV #aluminium
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VIS Downgrades Entity Ratings Of KAPCO To A VIS Credit Rating has downgraded Kot Addu Power Company Limited (KAPCO) to 'A ' for long-term and 'A-1' for short-term. The rating is on 'Rating Watch-Developing' status pending the issuance of the Final Tariff by NEPRA and the signing of the revised Power Purchase Agreement (PPA) with the Central Power Purchasing Agency (CPPA-G). The change in the business risk profile, with the expiration of KAPCO's PPA with the government in October 2022, and the pending renewal of PPA have contributed to the rating revision. The company's net sales declined in FY23, and profitability relies on investment income and interest on late payment. The Power Plant has remained non-operational in the ongoing year due to changed business dynamics. #PSX #StockMarket #PakistanEconomy #kse100 #investmentopportunities #tradingplatform #KAPCO"
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𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗼𝗿𝘆 𝗖𝗼𝗺𝗽𝗹𝗲𝘅𝗶𝘁𝗶𝗲𝘀 𝗳𝗼𝗿 𝗜𝗺𝗽𝗼𝗿𝘁𝗲𝗿𝘀 Staxa's recent article on navigating import regulations was featured in the April edition of FTMA News. As a proud Strategic Partner of FTMA Australia, we're committed to supporting the growth and professionalism of the timber prefabrication market. Read the full article here 👉 https://lnkd.in/gXHWjeu4 #Staxa #FTMA #TimberIndustry #Import #Timber
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All about Doctor Copper..... Why certain factions have ruled out investing in all sorts of commodities means they are going to be missing out on the performance that is and will come from the area. All UK major players are cheap. Copper having been on the floor and ignored despite the supply demand trends is now pretty much at a 5 year high. Enough said. #commodities #esg #ukequities #value investing https://lnkd.in/eNZm8arK
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#Announcement S&R Associates represented BW LPG, the world’s leading owner and operator of LPG vessels, in the formation of a 50-50 joint venture, BW Confidence Enterprise, with Confidence Petroleum India Limited, a listed company, to explore investment opportunities in onshore LPG import infrastructure. S&R Associates also represented BW LPG in its proposed USD 30 million investment in Confidence Petroleum India Limited pursuant to a preferential allotment of equity shares, which will constitute 8.5% of Confidence Petroleum India’s issued and paid-up share capital on a fully diluted basis. The allotment is subject to shareholder approval and customary closing conditions. S&R Associates also represented BW LPG in the formation of a joint venture between BW Confidence Enterprise and Ganesh Benzoplast Limited to fund the construction of a cryogenic LPG storage facility at Jawaharlal Nehru Port Association (JNPA) Port in Navi Mumbai, India. The S&R team was led by partners Rajat Sethi and Rachael Israel, and included associates Apurv Sharma, Durga Prasad Mohapatra, Samyak Jain, Oorja Chari and Ameesha Tripathi on corporate matters; partner Sumit Bansal and associates Shivani Chhabra and Taranjeet Singh on direct tax matters; and partner Ajinkya Gunjan Mishra and associates Avani Tewari and Tarusha Airan on indirect tax matters. For reference, please see below a press release in relation to the transaction: https://lnkd.in/gAh3AB6c #oilandgas #mining #infrastructure #ports #business #economy #mergersandacquisitions #jointventure #investment #corporatelaw #regulatory #lawyers #asia #india #delhi #mumbai
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