Novelis, a fully-owned subsidiary of India-based Hindalco Industries, will construct a $2.5 billion aluminum recycling and rolling plant in Bay Minette, Alabama. Expected to be commissioned from mid-2025 onwards, the new low-carbon rolling and recycling factory will have an initial capacity of 600 kilotonnes of finished aluminum goods per annum. Steve Fisher — Novelis President […]
The J.M. Smucker Co. (Smucker’s) revealed plans to invest $1.1 billion to construct a new manufacturing plant and distribution center in McCalla, Alabama. The facility will be dedicated to produce Smucker’s Uncrustables sandwiches, said the American food and beverages company. Expected to break ground before January 2022, the sandwich producing plant is targeted to begin […]
DeSHAZO has acquired Proto Machine Works, a manufacturer of industrial machinery, based in Huntsville, Alabama. The financial terms of the deal announced in mid-September were not disclosed. Proto Machine Works is engaged in designing and manufacturing customized industrial equipment to help customers in solving complex production challenges. DeSHAZO, on the other hand, is an original […]
Canadian logging company Stella-Jones has agreed to acquire Cahaba Timber through its US subsidiary for $36.5 million. Based in Brierfield, Alabama, Cahaba Timber is engaged in producing treated poles and pilings, mainly using CCA, CCA ET Clear, and CCA ET Brown. The company procures raw materials at its treating operations in Brierfield. The sales of […]
Southern Company’s Alabama Power has chosen a Mitsubishi Power JAC power island for a new 720MW combined cycle unit at its James M. Barry Electric Generating Plant (Plant Barry) in Alabama. Plant Barry, which is located in Mobile County, is a coal- and natural gas-fired electrical generation facility that has been operating since 1954. The […]
Elevation Financial Group, a Florida-based real estate private equity company, said that it has sold Serenity Townhomes, an Elevation Real Property Fund V asset located at Montgomery, Alabama for $6.9 million. The multifamily community, which has 192 units, marks the sale of the final asset in Elevation Real Property Fund V. Serenity Townhomes, which was […]
Danish energy company Ørsted has grown its solar footprint by acquiring the Muscle Shoals solar project, a 294MW under construction solar power plant in Colbert County, Alabama, from Longroad Energy at its financial closing. Financial terms of the deal were not revealed. Concurrent to the solar plant acquisition, Ørsted said that it has entered into […]
ProAssurance acquisition of NORCAL Group : Alabama-based property and casualty company ProAssurance has signed a $450 million to acquire NORCAL Group, a provider of medical professional liability insurance. As per the latest insurance acquisition news, ProAssurance is aiming to create the third largest medical professional liability insurance carrier in the US through the merger. The […]
Brentwood Associates, a California-based private equity firm, has acquired a majority stake in SSRG Holdings, the holding company of US chicken restaurant chain Chicken Salad Chick, from Eagle Merchant Partners. The terms of the acquisition were not disclosed. Currently, Chicken Salad Chick operates 137 chicken restaurants in 16 states across the US, with a presence […]
Integrity Marketing Group, a distributor of life and health insurance products to the US Senior Market, has wrapped up the acquisition of Medicare Advantage Specialists, as per the latest insurance acquisition news. Financial terms of the deal were not revealed. Headquartered in Hoover, Alabama, Medicare Advantage Specialists is an insurance marketing organization. Under the terms […]