Vimetco NV (LSE: VICO), the global producer of primary and processed aluminium products, today announces that its Chinese subsidiary, Henan Zhongfu Industrial Co., Ltd, has entered a joint venture with aluminium producer Chalco Henan Aluminium Fabrication Co., Ltd.
The Joint Venture company, Henan Zhongfu Specialized Aluminum Product Co., Ltd, will have a registered capital of RMB769 million, of which Chalco Henan Aluminum Fabrication Co. will make a cash contribution of RMB200 million, representing 26% of the registered capital of the JV. Henan Zhongfu will own 74% of the JV, comprising production facilities, inventories and other assets valued at a total of approximately RMB464 million, as well as RMB105 million in a cash contribution.
The long term strategic goal of the JV company is to consolidate its position within the aluminium industry by focusing on higher added value aluminium products.
For further information please contact:
Florenta Ghita
Email florenta.ghita@premiumpr.ro
About Vimetco
Vimetco N.V. is a global, vertically integrated producer of primary and processed aluminium products with major production assets in Romania, Sierra Leone and China, and a holding company in The Netherlands. Vimetco NV controls an aluminium production capacity of 1.1 million tonnes pa and employs some 7,000 staff. Vimetco's shares are listed on the London Stock Exchange (LSE:VICO). www.vimetco.
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