Fujian Minfa Aluminium Co Ltd:Says to dissolve a wholly owned Shanghai-based trading company.
Alcoa Inc:Announced it is taking further action to increase the competitiveness of its Upstream business amid prevailing market conditions.Alcoa will permanently close its 269,000 metric ton Warrick Operations smelter in Evansville, Indiana by the end of the first quarter 2016.Rolling mill and power plant at Warrick Operations will continue to operate.By the end of the second quarter 2016, the Company will reduce alumina production by one million metric tons, which includes curtailing the remaining 810,000 metric tons of refining capacity at its Point Comfort operations in Texas.
Coil SA:Reorganises activities in Italy and Belgium.Closes Capestrano factory in Italy.United Anodisers Srl will be placed into liquidation in.the near future.Strengthens production capacity in Belgium.12 layoffs in Capestrano.Production shifted from Capestrano to Landen in Belgium.Costs related to closure of Capestrano factory and liquidation of United Anodisers will not have any impact on the accounts.Estimates closure of line 4 in Belgium and redeployment of Italian assets will have significant impact on 2015 accounts.
AEI Corporation Ltd says completion of the business transfer agreement and increase of issued and paid-up share capital in AEI Corporation
AEI Corporation Ltd:Further to Announcement and the approval of the Shareholders at the extraordinary general meeting held on 27 April 2015, the Board of Directors of AEI Corporation Ltd wishes to announce the completion of the Business Transfer Agreement.Agreement in relation to sale and transfer of the Business and the Assets to AEI Corporation (Singapore) Pte. Ltd a wholly-owned subsidiary of the Company.Company has simultaneously subscribed for an additional 3,653,417 ordinary shares of S$1 each in the capital of AEICS for an aggregate cash consideration of S$3,653,417.The subscription was funded through the internal resources of the Company and is not expected to have any material impact on the net tangible assets or earnings per share of the Group for the current financial year ending 31 December 2015.
Tung Kuang Industrial Joint Stock Co:To dissolve its branch at Cam Phuc Ward, Cam Giang District, Hai Duong Province.To dissolve its subsidiary, Tung Yang Co Ltd, at Cam Phuc Ward, Cam Giang District, Hai Duong Province, due to ineffective operations, in September.
DADNY INC:To dissolve two subsidiaries.
Century Aluminum Company:Intends to permanently close its Ravenswood, W.V. aluminum smelter, effective immediately.The Ravenswood smelter has been idled since February 2009.The decision to permanently close the Ravenswood plant is based on the inability to secure a competitive power contract for the smelter, compounded by challenging aluminum market conditions largely driven by increased exports of aluminum from China.As a result, the economics of restarting and operating the facility are unfavorable.
Alcoa Inc:Realigns downstream portfolio to drive greater profitability as transformation continues.Says downstream portfolio will become two segments.Says realignment of its downstream segment as the company's value-add portfolio expands.Says external reporting for alcoa's new transportation and construction solutions segment will begin in third quarter 2015.Says one segment with a core focus on aerospace, and the other centered on the construction and commercial wheels markets.
Alcoa Inc:Says it will permanently close its poços de caldas primary aluminum smelter in Brazil on June 30.Says smelter has been curtailed since May 2014 and the underlying market conditions that led to the curtailment have not improved.Says the poços mine, refinery, aluminum powder plant and casthouse will continue normal operations.Says once poços smelter is closed, co's total global smelting capacity will be reduced to 3.4 million metric tons.Says expects to record restructuring-related charges in second quarter 2015 between $100 million and $110 million after-tax.