RIO TINTO MARCHES INTO CHINA
AsiaInfo Services, October, 2007
AsiaInfo Services 10-31-2007 Rio Tinto Marches into China BEIJING, Oct 31, 2007 (SinoCast via COMTEX) -- Australian iron ore giant Rio Tinto Ltd. finds a new way to step in China's aluminum sector by acquiring Canada's Alcan Inc., which has also taken stake in some Chinese aluminum production and processing companies. Alcan now holds a 50% stake in the third production line of Ningxia-based Qingtongxia Aluminium Group, which is the second largest aluminum maker in China.
Moreover, the foreign investor is planning to finance the Chinese company's expansion to gain a better position in it. The Canadian company also signed an agreement with Dingsheng Aluminium, a private Chinese aluminum foil producer, to set up a venture plant to produce heat-treated aluminum...
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