Alcoa to form China joint venture
(Wall Street Journal)
Updated: 2006-04-10 15:49
Alcoa Inc, the world's largest aluminum company, will expand further into
China through the formation of a US$95 million joint venture with Shanxi
Yuncheng Engraving Group.
Alcoa will hold a 70 percent stake in the new company, which will make
aluminum brazing sheet, while Shanxi Yuncheng will hold the remaining 30
percent.
The plant, based in Kunshan near Shanghai, will supply up to 50,000 metric
tons of aluminum brazing sheet per year.
The brazing sheet will be mostly used to make heat exchangers for Asia's
automotive market.
The new facility will be Alcoa's third flat-rolled plant in China.
The company has a venture with China International Trust
and Investment Corp in the northern province of Hebei, while it also took full
ownership of Alcoa (Shanghai) aluminum Products Ltd last year. Alcoa also owns
eight pct in China Aluminum Co.
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