GFG’s aluminium business looks along supply chain for takeovers

LONDON, Sept 7 (Reuters) – Alvance, the aluminium business of British commodities tycoon Sanjeev Gupta, is on the lookout for takeovers to triple production and create a vertically-integrated group, its chief executive said on Monday.

The privately-held group is seeking acquisitions that include green energy in order to meet its goal of becoming carbon neutral by 2030, CEO Arnaud de Weert told the online CRU World Aluminium conference.

Paris-headquartered Alvance aims to boost capacity to 1 million tonnes annually of primary aluminium in three years from the current level of 332,000 tonnes, he added.

“We’re looking at whatever’s coming on the table and talking to the people who own assets that would fit our portfolio,” De Weert said.

“And we’re in a little bit of luck because it seems that quite a few primary producers and integrated players are reviewing their portfolios.”

Alvance is part of the GFG Alliance, a

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