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The corporation «Alcoa" continues to adjust assets

As representatives of the company «Saudi Arabia Mining», aluminum plant, which is part of «Maaden Aluminum» and has an annual production capacity of 740,000 tons, is ready to start commercial production. According to the assumptions of the holding company structure, the results of this kind of plant activity will be reflected in the financial report «Maaden Aluminum» for the period July-September of this year. Enterprise «Maaden Aluminum» is a joint project of the Corporation «Maaden» and «Alcoa» with shares owned by them, respectively, the authorized capital of 74.9% and 25.1%. In essence «Maaden Aluminum» is a vertically-integrated complex, which includes in its composition an aluminum smelter, a mine with an annual production capacity of 4 million. Tonnes of bauxite, the plant focused on the issue of rolled aluminum with an annual design capacity of hot-rolled products 380 th. Tons enterprise producing 1.8 mln. tons of alumina.

The corporation «Alcoa», meanwhile, continues to purge its own assets. Recently, the company management decided to close the production of aluminum «Portovesme», which is not surprising, given the time of his downtime from November 2012. With that, the annual production capacity of the plant is 150 thousand tons of aluminum production costs are too high, and the prospects for growth are limited and unlikely to bring «Portovesme» at a competitive level, taking into account prevailing market conditions. According to Bob Wilt, who is president of the department «Alcoa Global Primary Products», the plant is not able to compete, that is unlikely to change in the future.

The corporation «Alcoa» together with the aircraft building concern «Boeing» is going to implement a long-term project for the supply of aluminum sheets and plates cost more than 1 billion. USD. This contract is a logical continuation of the 35-year-old joint venture companies, as the head of the «Alcoa» Board of Directors Klaus Kleinfeld. Under the contract, the corporation «Alcoa» becomes the sole supplier of aluminum sheet used for cladding «Boeing» wings. Aluminum plates manufactured by the corporation will be used to «Boeing» products. The contract involves further joint activity with the development of new high-strength and corrosion-resistant alloys.

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