Support The Moscow Times!

RusAl Takes Chinese Stake

United Company RusAl, the world's largest aluminum producer, agreed to buy a 33 percent stake in a trading affiliate of China North Industries, or Norinco, as Asian demand for the metal expands.

The investment in Norinco's Shenzhen North Investments will "enhance the effective promotion of RusAl's products in the Chinese market," the Moscow-based company said Friday in a statement. RusAl can nominate two directors to the board of Shenzhen North Investment, with one to be named chairman, according to a shareholder agreement, it said.

RusAl is seeking to diversify away from its traditional markets and plans to boost sales in China from next year, it said Nov. 14. Chinese demand for aluminum, used in packaging, cars and airplanes, has risen an estimated 15 percent this year from 2010, according to RusAl's quarterly results presentation.


… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more