Chalco Acquires Parent Assets
Year:2009 ISSUE:33
Click:345    DateTime:Nov.25,2009
Chalco Acquires Parent Assets      

Aluminum Corporation of China Limited (Chalco, SH: 601600) says it has acquired the full of Henan Zhongzhou Aluminum Plant's Zhongzhou Construction Company Limited, a 74% stake in Jiaozuo Hongrui Chemical Co., Ltd. and 100% of Henan Xincheng Construction Supervisory Services Co., Ltd. from its parent, the Aluminum Corporation of China (Chinalco), for RMB30 million.
   With the assets, Chalco will form an integrated industry chain from alumina, aluminum to aluminum processing, Chalco said on October 29th. And by doing so, Chinalco has also injected almost all its aluminum-related assets into the listed arm, a move that will create synergies.