KPS Capital Partners (KPS) signed a definitive agreement to acquire the global aluminum rolling business (Rolling) from Norsk Hydro ASA for approximately $1.67 billion. The transaction is expected to be complete by the middle of the year. Rolling is one of the largest global manufacturers of aluminum rolled products and serves customers across markets including automotive, beverage can, foil packaging and construction. Its assets include seven manufacturing facilities and one research-and-development center across Germany and Norway. The acquired facilities include Alunorf, the world’s largest aluminum rolling mill according to Norsk Hydro, and Grevenbroich, the world’s largest rolled aluminum finishing mill according to Norsk Hydro.
Kaiser Aluminum Corp. entered into a definitive agreement to purchase Alcoa Warrick LLC, containing all the assets of the Warrick Rolling Mill, from Alcoa Corp. for a purchase price of $670 million. Alcoa will retain ownership of the related smelting assets, power plant and land. As part of the transaction, Kaiser Aluminum will enter into a market-based molten aluminum supply agreement. The Warrick facility includes casting, significant hot- and cold-rolling capacity, and a range of finishing and coating lines. Warrick, which is located near Evansville, Ind., has shipped over 675 million pounds of aluminum in the last 12 months.
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.
Braidy Industries Inc. acquired NanoAl, a leader in the science of nanocrystalline strengthening technology applied to sheet aluminum, as a third wholly owned subsidiary. NanoAl was founded out of the Department of Materials Science at Northwestern University to commercialize the science of developing stronger aluminum alloys through control of key structural features at the nanoscale. Braidy believes the technology has the potential to significantly enhance the specific strength of aluminum to be produced by its Braidy Atlas mill in Ashland, Ky.
Braidy Industries Inc. selected SMS group and Ebner Industrieofenbau GmbH as equipment and furnace providers, respectively, for the company’s aluminum mill in Ashland, Ky. Braidy announced last year that it would invest $1.3 billion to construct the nation’s first greenfield aluminum rolling mill in over three decades. It will produce auto-body sheet aluminum, plate and ultrahigh-strength alloys for the aerospace industry. The facility is on schedule for first production in 2020.
Logan Aluminum Inc., in conjunction with Tri Arrows Aluminum, broke ground on a $240 million expansion project in Russellville, Ky. The expansion, which will create approximately 190 new employment opportunities, includes an aluminum recycling and ingot casting facility along with numerous projects to provide expanded capabilities and increased capacity at the company’s rolling mills.