AIP Claims Ownership Of GFG Alliance’s Duffel Aluminium Rolling Plant In Belgium
An investment firm in a legal battle with Sanjeev Gupta’s GFG Alliance said this week that it is now the...
GFG Alliance
Lochaber Aluminium Smelter Loses £4 MM Despite £586 MM Government Guarantee
A financial report recently released by GFG Alliance shows that the Lochaber aluminium smelter in Scotland lost over £4 million after receiving a government guarantee of £586 million in the 2020-2021 fiscal year. According to the financial results, the Lochaber smelter was...
Independent Financial Auditor Opens Investigations Into GFG Alliance’s Aluminium And Steel Holdings
Britain’s independent financial auditing regulator begun last week four different investigations into Sanjay Gupta’s Gupta Family Group (GFG) Alliance’s aluminium...
Aluminium Dunkerque Signs Several New Deals With Glencore
Europe’s largest aluminium smelter has agreed to buy feedstock alumina from Anglo-Swiss metals miner Glencore plc, widening its supply pipeline...
Events
British Authorities Withdraw Insolvency Petition Against GFG Alliance After Promising Negotiations
British authorities have dropped their petition to wind up several of GFG Alliance’s metals businesses after the parties have engaged in fruitful discussions regarding the firms’ futures. GFG told investors earlier this week that it will continue its talks with other lenders and that it has been able to increase funding for Liberty Steel to […]
Scottish Liberal Democrats Criticize GFG’s Deal With Government For Lochaber Aluminium Smelter
The Scottish Liberal Democratic Party spoke out this week about Sanjeev Gupta’s deal with the government to keep the Lochaber aluminium smelter running, claiming that the GFG Alliance has grossly enriched itself at taxpayers’ expense. According to a spokesperson from the party, GFG Alliance has witnessed the aluminium smelter’s value increase by over £100 million […]
Evtec Takes On GFG Alliance Subsidiary Liberty Aluminium Technologies Upon Jaguar Land Rover’s Urging
GFG Alliance sold off two aluminium parts factories last week and will be closing a third after Jaguar Land Rover asked a third party to step in and secure its aluminium parts supply from those plants. Coventry, England’s Evtec has agreed to taking on those sites after JLR’s invitation to do the same. It will […]
Sanjeev Gupta’s GFG Alliance Under Investigation By French Officials For Dunkirk Aluminium Smelter Funding Deal
Sanjeev Gupta’s GFG Alliance is facing an investigation by French authorities into allegations that the firm may have been involved in misuse of corporate assets and money laundering, among other charges. This week’s revelation is yet another blow to GFG Alliance, which has been navigating the stormiest of seas since major financial backer Greensill Capital […]
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 with American Industrial Partners Capital Fund VII, L.P., whom GFG Alliance and its […]
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 ...
