Rusal acquires 30 percent of Chinese aluminum oxide company

Russian aluminum producer Rusal announced that an agreement had been reached to acquire 30 percent of the shares of Chinese aluminum oxide producer Hebei.

Rusal, one of the world’s largest aluminum producers, announced in its statement to the Hong Kong Stock Exchange that the company has reached an agreement for the supply of aluminum oxide.

The statement said that an agreement was reached to acquire 30 percent of Hebei’s shares, and that the value of the deal was approximately $266 million.

In the company statement it was indicated that with the agreement Rusal will have access to the supply of aluminum oxide, an important raw material, at competitive prices.

While China produced about half of global aluminum oxide production at 76 million tons last year, Rusal accounted for 5.6 percent of global aluminum production and 4.5 percent of oxide production. of aluminum. (AA)