Novelis Inc. reaffirmed its full commitment to closing its proposed acquisition of Aleris Corp., a global supplier of rolled aluminum products, notwithstanding the U.S. Department of Justice (DOJ) lawsuit to block the transaction. Atlanta, Ga.-based Novelis intends to vigorously defend against the DOJ's challenge, which it believes is without merit. Novelis announced in July 2018 that it signed a definitive agreement to acquire Cleveland, Ohio-based Aleris for approximately $2.6 billion.
Novelis Inc. announced a collaboration with the Georgia Institute of Technology (Georgia Tech) to establish the Novelis Innovation Hub at Georgia Tech. The company will invest $2.5 million to initiate research, faculty, student and educational program support. The collaboration will promote aluminum research, innovative business models and related educational endeavors at Georgia Tech and will serve as a cross-functional hub connecting Novelis’ technical and business innovators with Georgia Tech’s students and faculty.
Alcoa Corp. announced that the Aluminerie de Bécancour Inc. (ABI) smelter plans to restart curtailed smelting capacity after members of the United Steelworkers union in Quebec approved a six-year labor agreement. The smelter, which is owned by Alcoa (74.95%) and Rio Tinto Alcan Inc. (25.05%), has total capacity of 413,000 metric tons per year. The restart will begin on July 26 and is expected to be complete in the second quarter of 2020.
The Aluminum Association released “The Aluminum Agenda: A Policy Roadmap for a Competitive U.S. Aluminum Industry,” which lays out principles and policy goals for a sustainable U.S. aluminum sector in the 21st century. The document was developed in consultation with aluminum companies spanning the entire industry value chain.
Braidy Industries Inc. and En+ Group plc announced the execution of a Letter of Intent specifying basic terms for a potential $200 million lead investment for its Braidy Atlas mill in Ashland, Ky., by En+ Group subsidiary United Company RUSAL plc (Rusal). The strategic partnership aims to create the first low-carbon-impact industrial aluminum rolling-mill operation in the world. Braidy will be the first North American company to contract Rusal’s premier ALLOW-branded (certified low-carbon) aluminum slabs and P1020 as its exclusive primary inputs. According to Braidy, no U.S. domestic smelter currently delivers low-carbon primary aluminum slabs.
Arconic Inc. will invest approximately $100 million to expand its hot-mill capability and add downstream equipment capabilities to manufacture industrial and automotive aluminum products in its Tennessee Operations facility near Knoxville, Tenn. The project, which is expected to create 70 new jobs, is already under way and should be complete by the fourth quarter of 2020.
Aluminum manufactured products of various sizes have been steadily replacing steel in industrial designs such as automobiles, airplanes, appliances and many more applications due to the light weight and flexibility of aluminum.