High-end aluminium products JV to open in Shanghai

Alcoa and China Power Investment Corp. (CPI) have finalised an agreement to establish a joint venture company that will produce high-end fabricated aluminium products for the China market. The new JV named, Alcoa CPI (China) Aluminium Investment Co. Ltd, will be majority owned and managed by Alcoa and will based in Shanghai. Alcoa CPI (China) will serve as a manufacturer of high-end fabricated aluminium products for the aerospace, automotive, commercial transportation, consumer electronics and packaging markets in China.

"This is a significant milestone in the partnership we have forged with CPI leveraging our combined strengths to capture opportunities in the high-growth Chinese aluminium market," said Alcoa Chairman and CEO Klaus Kleinfeld. "This alliance will enhance Alcoa's competitiveness and further position our businesses for continued profitable growth."

"CPI is delighted to work with a global aluminium industry leader to produce high-end fabricated aluminium products to serve the fast growing and dynamic China market. We expect that this joint venture will enable CPI to extend its capabilities to the fabricated marketplace to enhance competiveness and to better serve our customers," said CPI President Lu Qizhou.