Alcoa Sells Stake in Chalco for $2 Billion
(Akron/Tire Review) Aluminum producer Alcoa Inc. sold its nearly 7 per cent stake in Chalco, China’s largest aluminum maker, for $2 billion. Alcoa said it would continue to invest in the aluminum industry in China, where it currently manufactures foil, fasteners, automotive components and other products. Alcoa said its initial investment in Chalco was less than $200 million.