RUSAL buys majority holding of Alscon

2 March 2007 (14:22)

RUSAL has recently completed the acquisition of the majority holding of Aluminium Smelter Company of Nigeria (Alscon), which is going to increase its aluminum output by 150,000 tons a year. Buying Alscon also means RUSAL can now create a full production cycle in this regions and expand its client network as well as enter the new markets, reports RUSAL’s press officer.

The company bought a 77.5% share holding that includes a plant with the planned production capacity of 193,000 tons of aluminum annually which has an electrolysis shop, an anodic shop, and a foundry; a port on the River Imo, and a gas-fired power plant. The government of Nigeria and Ferrostaal AG of Germany have remained the minority shareholders, with 15% and 7.5% of stock, respectively.

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