Alcoa Inc. announced on February 1 that it is partnering with Aluminum Corporation of
Commenting on the investment, Alain Belda, Alcoa chairman and chief executive officer, said, “We have long believed that Rio Tinto has a world-class portfolio of assets and is very well positioned to prosper in the current mining cycle. This investment, made in partnership with Chinalco, allows us to mutually benefit from developments in the sector. We have known Chinalco for many years, dating back to our participation in the successful launch of Chalco’s IPO, and are looking forward to this new venture.”
The investment will be made through a Special Purpose Vehicle, called Shining Prospect Pte. Ltd. (SPPL) created for this purpose. SPPL is based in
Alcoa is the world's leading producer and manager of primary aluminum, fabricated aluminum and alumina facilities, through its growing position in all major aspects of the industry. Alcoa serves the aerospace, automotive, packaging, building and construction, commercial transportation and industrial markets, bringing design, engineering, production and other capabilities of Alcoa's businesses to customers. In addition to aluminum products and components including flat-rolled products, hard alloy extrusions, and forgings, Alcoa also markets Alcoa wheels, fastening systems, precision and investment castings, structures and building systems. The company has 107,000 employees in 44 countries.
