Metals News
Xinren Aluminum To Buy Two Smelting Firms For S$85.5 Mln
industry news
09:48AM
Mar 11,2011
Source:SMM

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.
 

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