China's largest aluminium smelter and alumina miner Aluminium Corp of China Ltd (Chalco) does not see the hostile takeover bid by Alcoa Inc for Alcan Inc affecting its own merger and acquisition plans nor will it alter its alumina pricing strategy, a Chalco spokesperson told XFN-Asia.
'We have already set our sights on domestic aluminium and alumina firms we might consider acquiring and this possible takeover won't alter our plans. And it won't affect our alumina pricing strategy as we will still look to suppy and demand forces as our chief determinant in setting prices,' said Zhang Qing.
She also said any merger involving the two North American peers would not alter the global ranking of the world's biggest producers.
'We will still be number two in the world behind Alcoa, whether the merger goes through or not,' Zhang said.
New York-based Alcoa yesterday launched a hostile 27 bln usd bid for Canada's Alcan as the US firm seeks to keep pace with growing Russian rival Rusal after failing in almost two years of private talks to reach a negotiated deal.
Some reports have put Rusal ahead of Chalco in terms of size, but Zhang said Chalco is still the world's second largest company in the industry, without elaborating.
But she said that Chalco would not be seriously impacted by the North American consolidation, regardless of the outcome.
'Market forces, not foreign M&A activity, are what ultimately impact our operations,' she said.
豫公网安备41010502003434号