Alcoa exits Saudi rolled Al venture

: Metals
19/06/26

Pittsburgh-based Alcoa plans to divest a minority stake in the Ma'aden Rolling Company, which produces rolled aluminum products in Saudi Arabia.

Alcoa will return its 25.1pc stake in the rolling mill to chief investor Ma'aden, and expects to close on that by the end of the month.

The company will retain its 25.1pc stake in Ma'aden's smelting, alumina and bauxite businesses.

To cover its remaining obligations, Alcoa will pay Ma'aden a total of $100mn in two installments, releasing itself from $295mn in future debt and cash requirements.

The companies will maintain commercial relationships in sales, logistics and other services.

Alcoa joined the partnership in 2009.

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25/05/12

Tata UK lambasts importers' TRA submissions

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Ford pauses production at Chicago plant

25/05/09

Ford pauses production at Chicago plant

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Brazil's CSN expects flat steel, upside ahead

25/05/09

Brazil's CSN expects flat steel, upside ahead

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Brazil's inflation accelerates to 5.53pc in April

25/05/09

Brazil's inflation accelerates to 5.53pc in April

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Q&A: US' ACE Green bets on LFP batteries

25/05/09

Q&A: US' ACE Green bets on LFP batteries

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