NEW YORK (AP) — Canadian aluminum maker Alcan Inc. said Tuesday it signed a joint venture agreement with Dingsheng Aluminum to set up a facility in Zhenjiang, China.
Alcan said it will be the majority partner in the facility, which will make heat-treated aluminum plates that will be used in making the wings and fuselages of airplanes, semiconductor equipment, appliances and plastic injection molds to produce automotive parts. It did not disclose terms of the agreement.
The project is subject to approval from the Chinese government and Alcan's board of directors.
U.S.-listed shares of Alcan rose 19 cents Tuesday, closing at $99.03.