Reuters reported that Alcoa Inc and China Power Investment Corporation agreed to establish JV company to produce high end fabricated aluminum products for the Chinese market.
Mr Klaus Kleinfeld chairman & CEO of Alcoa and Mr Lu Qizhou president of CPI signed the agreement in Beijing to set up Alcoa CPI (China) Aluminum Investment Company Limited which will be majority owned and managed by the US aluminum producer and based in Shanghai.
Mr Kleinfeld said that this alliance will enhance Alcoa`s competitiveness and further position our businesses for continued profitable growth.
The JV company will serve as a leading manufacturer of high end fabricated aluminum products for the aerospace, automotive, commercial transportation, consumer electronics and packaging markets in China.
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