Rusal and Braidy Industries inks agreement to jointly build aluminum rolling plant in US
2019-07-08 14:38:01 [Print]
Rusal and Braidy Industries Inc have signed a legally-binding agreement on establishing a joint venture to build an aluminum manufacturing plant in Ashland, Kentucky, to produce low carbon flat rolled aluminum products for the US automotive, transportation and food and beverage industries.
According to the statement on July 5, within the package of the signed transaction agreements there is a metal supply agreement for supply of approximately 200 thousand metric tonnes of metal to be delivered annually over 10 years once the rolling mill is constructed and launched into operations.
In April, the two companies announced plans to establish a joint venture aluminum rolling mill with a generating capacity of 500,000 tonnes hot rolling line and 300,000 tonnes cold-rolled finished goods. In exchange for the $200 million investment, Rusal will acquire a 40 percent share in the new aluminum rolling mill, while Braidy Industries will get 60 percent.
According to the statement on July 5, within the package of the signed transaction agreements there is a metal supply agreement for supply of approximately 200 thousand metric tonnes of metal to be delivered annually over 10 years once the rolling mill is constructed and launched into operations.
In April, the two companies announced plans to establish a joint venture aluminum rolling mill with a generating capacity of 500,000 tonnes hot rolling line and 300,000 tonnes cold-rolled finished goods. In exchange for the $200 million investment, Rusal will acquire a 40 percent share in the new aluminum rolling mill, while Braidy Industries will get 60 percent.
Aluminum Alloy ADC12 Delivered China
Unit:RMB/mt
China secondary aluminum alloy producers' sales volume statistics by province by month
Unit: mt
