Aleris to offload recycling unit; US plastic bottle recycling up; Thai EfW plant doubles capacity; Turks look to bring in Bangladeshi textile workers
Aleris’ aluminium recycling unit to change hands
Signature Group Holdings of US has signed a deal to acquire the aluminium recycling unit of Aleris in North America for $525m (£326m) in cash and stock. The investment company agreed to pay $495m in cash and $30m in preferred stock for the global recycling and specification alloys business. The sale encompasses 18 production facilities in North America as well as six in Europe.
2013 plastic bottle recycling up in US
The National Post-Consumer Plastics Bottle Recycling Report has revealed that US plastic bottle recycling rose 4.3% in 2013 to top 1.32 million tonnes. The recycling rate of HDPE bottles stayed unchanged at 31.6%, according to the Association of Post-Consumer Plastic Recyclers and the American Chemistry Council. HDPE exports fell almost 20%, while imports of HDPE jumped by 124% last year.
Capacity to be doubled at Thai EfW plant
Thailand’s third-largest cement manufacturer TPI Polene (TPIPL) is looking to invest THB3bn (£57.4m) to double the capacity of its Saraburi energy from waste power plant from 60MW to 120MW. The company intends to begin using the additional output in the fourth quarter of 2015, running at full capacity in the first six months of 2016.
Latin American steel imports from China up
The Latin American Steel Association’s latest statistics have found that the region’s laminated steel imports from China stood at 5.4 million tonnes during the January-August period, up 54% year-on-year. Latin American flat steel imports hit 3.7 million tonnes in the first eight months of the year. Brazil remains China’s biggest laminated steel importer, with imports accounting for 25% of the total. Chile was in the second place with import share of 15%.
Turkish textile sector looks to call Bangladeshi workers
Many players in the Turkish textile sector are considering bringing over cheap labour from Bangladesh to the country. Turkey cannot find blue-collar workers for positions in the factories at the minimum levels of wage on offer.
Hurriyet Daily News
Cotton support programmes hit competitiveness
A US Department of Agriculture report warns that nations that support cotton and textiles prices above world levels may in turn cut their export competitiveness, especially for yarn and fabric. Its A-index dipped below 70 cents in early October, a level not seen in last five years.