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Home / Metal News / Chalco to Strips off Loss-Making Aluminum Asset for Nearly $ 1 Million

Chalco to Strips off Loss-Making Aluminum Asset for Nearly $ 1 Million

iconOct 10, 2015 10:02
Source:SMM
Chalco will strip off loss-making aluminum asset as part of its ongoing SOE reform, cnmn.com reported.

SHANGHAI, Oct. 10 (SMM) – Chalco will strip off loss-making aluminum asset as part of its ongoing SOE reform, cnmn.com reported. 

The Chinese aluminum giant intends to transfer all of its 30% stake in Qinghai Yellow River Hydropower Recycled Aluminum Co. for 600 million yuan ($0.95 million). The offer was made on September 23 and will expire on October 26, 2015, according to the China Beijing Equity Exchange.   

Qinghai Yellow River Hydropower Recycled Aluminum Co. is mainly engaged in aluminum smelting and processing. The company reported 4.59 billion yuan in revenues last year, but suffered a loss of 813 million yuan. 

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Chalco

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