Chalco and Sapa to form aluminium JV

Reuters reported that Aluminum Corporation of China Limited and Europe's Sapa AB has agreed to form JV to serve China's rolling stock market.

As per report, the 2 companies had signed MoU and aimed to finalize plans for construction of a facility in southern China by the Q4. They said that the venture would be 50-50 endeavor, but did not disclose financial details.

According to the two sides, the JV's aluminium extrusion and fabrication facility would include the latest technology for press and fabrication capabilities. Products could be launched by as early as the Q1 of 2011 using existing subsidiaries.

They said that the Chinese rolling stock industry has seen a very strong development both in terms of volume and technology. The JV will be able to meet current needs as well as serving the rapidly increasing technical demands of the rolling stock industry.

(Sourced from Reuters)

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