BOGUCHANY. May 15 - United Company RUSAL (UC RUSAL), the world's biggest aluminum company, is interested in acquiring Russian mining and metallurgical companies as part of its drive to diversify its business.
"We're interested in Russian mining and metals companies," UC RUSAL General Director Alexander Bulygin told journalists on Tuesday.
Bulygin, speaking at the groundbreaking ceremony for the construction of an aluminum smelter for the Boguchany electricity and metals project in the Krasnoyarsk territory, did not name any of the companies. "We're interested in all the companies you of," he said.
"The western markets are still RUSAL's key markets from the point of view of sales and raw materials," Bulygin said.
UC RUSAL's foreign assets represent 50% of the value of the merged company's assets. "We'll be stepping up our strategy in the West," he said.
UC RUSAL is carrying out a number of foreign projects, some of them in Congo, Vietnam, Papua New Guinea and Venezuela.
UC RUSAL was established through a merger between Russian Aluminium (RUSAL), Siberian-Urals Aluminum Company (SUAL) (RTS: SUAL) and the alumina-related assets of Switzerland's Glencore International AG. The combined assets are capable of producing 10.6 million tonnes of alumina and 3.9 million tonnes of aluminum per year. Bulygin has said their combined sales revenue, going by last year's results, is potentially $10 billion.
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