GFG Alliance In Talks With Glencore Over Refinancing Aluminium Assets’ Debt
The struggle to keep Gupta Family Group Alliance’s assets funded continued last week as its head Sanjeev Gupta continued talks...
ALVANCE Aluminium Group
Aluminium Dunkerque Refinances Financing Agreement With AIP As Sanjeev Gupta Files Suit
Europe’s largest aluminium smelter announced last week the successful completion of a refinance of its financing agreement, which includes US$235 million in debt and US$60 million in hedging liabilities. Aluminium Dunkerque Industries France SAS (formerly Liberty Industries France SAS) refinanced the debt...
GFG Alliance Reaches Standstill Agreement With Credit Suisse On Australian Assets
Gupta Family Group Alliance and Credit Suisse have reached a standstill accord on its Australian plants yesterday that will allow...
Gupta Assures Market That Closures Of Aluminium And Steel Plants Will Not Happen On His Watch
Despite ever more ominous news coming from one of its biggest financial partners, GFG Alliance head man Sanjeev Gupta promised...
Events
GFG Alliance Seeking Payment Pause For Debt Payments To Troubled Backer Greensill
In response to concerns raised by an insolvency filing by one of its financial backers, GFG Alliance leader Sanjay Gupta said his firm is in discussions with its administrators regarding an agreement to pause payments to the troubled firm. On Friday, Gupta relayed internally that it was seeking a standstill agreement from Greensill Capital’s administrators, […]
Liberty Steel Labor Reps Seek Assurance From GFG Alliance After Insolvency Of Major Financial Backer
Representatives from British trade unions seek to meet with officials at Liberty Steel after one of GFG Alliance’s major backers signaled financial trouble by entering into administration. On Monday, Greensill Capital filed insolvency paperwork with local courts. The financial firm lost insurance and investor funding for its own supply chain business last week. Gupta Family […]
GFG To Double Lochaber Smelter’s Capacity With Addition Of Aluminium Recycling Plant
Sanjeev Gupta’s GFG Alliance said last week it is preparing to invest £94 million in the construction of a new aluminium recycling facility in Scotland at its existing aluminium smelter at Lochaber. Local media said the investment would also include a doubling of the aluminium smelter’s nameplate capacity, bringing it to 80 thousand metric tons […]
Alvance Looking For Raw Materials And Value Added Components In Quest For Vertical Integration
British commodities maven Sanjeev Gupta is shopping around for new components for its aluminium business Alvance, which it hopes to see triple production and become a fully vertically-integrated aluminium production firm. According to comments made yesterday by CEO Arnaud de Weert at the virtual CRU World Aluminium conference, Alvance aims to be carbon neutral within […]
GFG Alliance Groups Aluminium Assets Into Paris-Based Firm ALVANCE
Sanjeev Gupta’s GFG Alliance announced on Monday its decision to gather its aluminium assets into one Paris-based firm named ALVANCE Aluminium Group (ALVANCE). The announcement by the privately-held metals conglomerate is following through on an announcement it made last fall that its steel assets would soon be merged in anticipation of a listing on a […]
Biden Infrastructure Bill A Big Boon To Aluminium Industry: Norsk Hydro VP Mike Stier
Earlier this month the United States Congress passed into law President Joe Biden’s US$1.2 trillion infrastructure package. The Investing in a New Vision for the Environment and Surface Transportation in America Act (or the INVEST in America Act) will allocate US$550 billion ...
The Net-Zero Shift Starts With Low Carbon Aluminium
2020 was supposed to be “year of climate action”, with the Glasgow COP26 acting as a major milestone for both ...
Aluminium at the LME Week – Key Takeaways
Between October 28 and November 1st, London hosted the traditional London Metals Exchange (LME) Week gathering of analysts, brokers, traders ...
Aluminium Market Oversupplied, Demand Growth Flat
Base metals prices reacted positively to the progress registered in the latest round of US – China trade talks in ...
