Alcoa takes control

News

Alcoa has purchased the 30 percent interest in the Alcoa Closure Systems International (Tianjin) joint venture currently owned by its partner China Suntrust Investment Group.

Alcoa

announced today that it has purchased the 30 percent interest in the Alcoa Closure Systems International (

Tianjin

) joint venture currently owned by its partner China Suntrust Investment Group.

The joint venture was established in 1994 to produce plastic closures for beverages.

Alcoa Closure Systems International (Tianjin) is now a wholly owned foreign enterprise. CSI Tianjin received its new business license on November 24, 2005.

Alcoa's presence in China began in 1993 with the creation of the Alcoa Asia representative office in Beijing. Since then, Alcoa has established thirteen wholly owned and joint venture operating companies.

Products produced at Alcoa facilities in Qinghuangdao, Shanghai, Tianjin, Kunming and Hangzhou include foil, fasteners, automotive products, construction products, plastic closures and decorative sheet.