SINGAPORE, Mar 10, 2011 (Dow Jones Commodities News via Comtex) -- China-based Xinren Aluminum Holdings Ltd. (MN5.SG) said Thursday it intends to acquire two Chinese smelting companies for S$85.5 million.
The two firms, Guizhou Liupanshui Shuangyuan Aluminum Co. and Yichang Changjiang Aluminum Co., are owned by Xinren's majority shareholders, the Zeng family, the company said in a statement.
The two facilities have a combined smelting capacity of 275,000 metric tons and are already controlled and operated by Xinren under a contractual agreement, it said.
Xinren will finance the proposed deal with internal funds, it added.
