Alcoa to acquire Russian assets
Alcoa has entered into an agreement to purchase Rusal's controlling interests in fabricating facilities in Samara and Belaya Kalitva, Russia. Terms of the transaction, which is subject to government approvals, have not been disclosed.
As part of Alcoa, the two fabricating facilities will serve not only the domestic Russian market but will also focus on global customers in Europe, Asia and the Americas.
"This acquisition is part of our plan to continue to profitably grow our company by expanding our global footprint," said Alain Belda, Alcoa Chairman and CEO. "This initiative expands our business in Russia and positions us to better serve customers throughout the world."
The two companies are also entering into long-term arrangements for the supply of metal to the two plants and for Samara to continue its supply of can stock and other products to Rusal affiliates. Separately the parties are also entering into a long-term alumina supply arrangement.
The Samara facility is located about 500 miles southeast of Moscow and features cast house, flat rolled products, extrusion, and forging capabilities.
The Belaya Kalitva facility is located about 500 miles south of Moscow. The facility also features cast house, flat rolled products, extrusions, tubes, and forgings capabilities. The Belaya Kalitva facility also provides specialised plate rolling and finishing equipment.