Rusal Announces Acquisitions That Will Make It the World's Biggest Aluminum Producer

MOSCOW  - Russia's OAO Rusal moved into position Monday to surpass Alcoa Inc. as the world's biggest aluminum producer, announcing a deal to create a company that will make an estimated 12 percent of global output of the metal.

The three-way deal underscored the rise of Russia's commodities-based industries, which have reaped the benefits of low costs and soaring world prices, as well as the ambitions of Rusal's billionaire owner Oleg Deripaska.

The new company — which will absorb Rusal's Russian rival Sual as well as the alumina assets of Swiss-based commodities trader Glencore — will include smelters and refineries across Russia as well as facilities in China, Guyana, Australia, Ireland, Jamaica, Italy and Sweden.