October 19 -- Jiaozuo Wanfang Aluminum Manufacturing （000612） plans to cut electrolytic aluminum capacity by 140,000 tons, one-third of its total capacity, on October 19 due to electricity shortages, reports 163.com, citing a company filing.
The company predicts the cut will affect its electrolytic aluminum production by 30,000 tons in 2010, which constitutes 7.1 percent of its target for annual aluminum production.
Jiaozuo Wanfang Aluminum Manufacturing has also scheduled to perform maintenance on related equipment during the production capacity reduction.
Wanfang’s parent, Aluminum Corporation of China （601600, 2600.HK） decreased its holdings in Wanfang by 20.79 million shares at 21.32 yuan per share in September.
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