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...As part of the deal Novelis will acquire Aleris’ 13 manufacturing facilities in the US, Asia and Europe....
...Novelis is owned by India’s Hindalco Industries. Shares in Hindalco have fallen 17 per cent this year in India....
...Novelis is considering boosting its use of scrap aluminium in its US production facilities, but Mr Palmieri said that most US exports are too low quality for his company to use....
...Kumar Mangalam Birla, for instance, took similar steps having become head of the venerable Birla conglomerate, most notably by buying Canadian aluminium group Novelis for $6bn in 2007....
...“I’m encouraged that the LME is taking more and more significant steps and that’s positive for the consumers — it’s gone on too long,” said Nick Madden, senior vice-president at Novelis, which makes rolled...
...Industry officials cite an increase in demand from South Korea after Novelis, the world’s biggest aluminium buyer, opened Asia’s biggest can recycling centre in 2012....
...Novelis, the world’s biggest aluminium buyer, has complained of a possible “engineered squeeze”....
...Therefore, we believe it is prudent to include it as a possible business risk,” Novelis told the FT....
...Novelis and some other buyers protested that this would do little to resolve the problem....
...CRR is backed by Ardagh Glass and Novelis, a bottle manufacturer and leading processor of waste aluminium used in making beverage cans....
...General Motors, one of the world’s largest automakers, and Novelis, a leading aluminium processor, told the Financial Times that the LME’s move to double the rate at which the largest warehouses must deliver...
...Nick Madden, chief procurement officer for Novelis, the world’s top buyer of aluminium metal and a supplier to companies including Ford, LG and Tetra Pak, argues that the record premiums for aluminium in...
...Consider India’s Hindalco, which just wrote down two-thirds of the $1.9bn goodwill in its Canadian aluminium subsidiary, Novelis, bought for $6bn two years ago....
...Mr Kotak said that the Tata-Corus deal had worked out better than expected for the Indian buyer, but signalled that last year’s $6bn takeover of Novelis, a Canadian aluminium maker, by Birla had yet to prove...
...Its sheer scale and ambition immediately inspired a series of landmark deals involving conglomerates such as the Birla Group, whose Hindalco unit paid $6bn for aluminium producer Novelis of Canada; and the...
...Since then, other Indian businessmen have been making waves, including Ratan Tata with his $3.3bn acquisition of Corus, Kumar Mangalam Birla with a $6.4bn acquisition of Novelis and most recently, flamboyant...
...India’s Aditya Birla Group has become the second of the country’s large industrial conglomerates to attempt a multi-billion dollar foreign takeover after agreeing on Sunday to buy Novelis of Canada for $6bn...
...Novelis, which made a loss last year, will gain a low-cost base from which to source high-quality raw materials....
...Its rival, the Essar group has bought two steel companies in North America while another Indian group, Hindalco Industries, has bought Novelis, a Canadian aluminium producer....
...Shares in Hindalco Industries plunged 14 per cent on Monday after it said it would pay almost $6bn for Novelis of the US....
...Hindalco will take a similar amount of time to bring Novelis, a company about twice its size but again with a fraction of its margins, to full profitability....
...Hindalco reported margins of 29.2 per cent in the June-September quarter, a figure that will be diluted once it is consolidated with Novelis....
...Shares in Indian smelter Hindalco Industries plunged 14 per cent on Monday after it said it would pay almost $6bn, on an enterprise value basis, for Novelis of the US....
...Taken together, international banks have had to commit to financing a total of more than $38bn in funding for the Vodafone-Hutchison Essar bid, the Tata-Corus takeover, and the takeover of Canada’s Novelis...
...This year alone, Tata Steel bought Anglo-Dutch rival Corus for $11bn, United Breweries bought Scotch whisky distiller Whyte & Mackay for $1.2bn and Hindalco bought Canadian aluminum company Novelis for $6bn...
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