CHALCO to acquire Qingdao Light Alloy
2017-12-29 17:18:57 [Print]
CHALCO announced on 28 Dec that its wholly-owned subsidiary CHALCO Shandong plans to acquire 100% shares of Qingdao Light Alloy Co., Ltd. (Qingdao Light Alloy) held by CHALCO with about RMB300 million via agreement.
The registered capital of Qingdao Light Alloy is RMB418 million, whose main businesses include production and sales of aluminum, magnesium, smelting and processing products.
The company could make strategic layout for the secondary aluminum alloy industry via this acquisition. The secondary aluminum alloy industry is an environmental protection one, and the development of this industry corresponds to the national policy, meanwhile supports the primary aluminum business. CHALCO Shandong could make arrangement for its businesses and aluminum processing after this acquisition.
The registered capital of Qingdao Light Alloy is RMB418 million, whose main businesses include production and sales of aluminum, magnesium, smelting and processing products.
The company could make strategic layout for the secondary aluminum alloy industry via this acquisition. The secondary aluminum alloy industry is an environmental protection one, and the development of this industry corresponds to the national policy, meanwhile supports the primary aluminum business. CHALCO Shandong could make arrangement for its businesses and aluminum processing after this acquisition.
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