Alcoa Forms Chinese Automotive Casting Alliance with SMW Automotive Hong Kong.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Alcoa announced today that it has signed an agreement with SMW SMW Swiss Military Watch SMW Streaming Media World SMW Super Mario World (game) SMW Special Marine Warning SMW Sheet Metal Workers SMW Swiss Medical Weekly SMW Super Mario War (gaming) Automotive Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. to form an alliance to produce cast aluminum chassis and suspension components and modules for the automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. in China, South Korea, Japan and the Asia Pacific region. Under the agreement, Alcoa plans to license its Vacuum Riserless and Pressure Riserless Casting (VRC/PRC) technology and sell related production assets. SMW Hong Kong's new wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Alutech Automotive Parts, Ltd. of China, will establish an aluminum casting plant in Wuhan, Hubei Province, China to supply OEMs in Asia with cast structural parts using Alcoa's proprietary technology. The plant is slated to be operational in 2008. In addition, the agreement provides the framework for both companies to identify, develop and launch programs. "This marks our official establishment of a commercial footprint in China and complements and adds to Alcoa's current VRC/PRC aluminum casting capabilities in the U.S. and Europe," said Misha Riveros Jacobson, President, Alcoa Auto and Truck Structures. To learn more about Alcoa's proprietary VRC/PRC process, click here (http://www.alcoa.com/aats/en/info_page/process.asp). Alcoa is the world's leading producer and manager of primary aluminum, fabricated fab·ri·cate tr.v. fab·ri·cat·ed, fab·ri·cat·ing, fab·ri·cates 1. To make; create. 2. To construct by combining or assembling diverse, typically standardized parts: aluminum and alumina facilities, and is active in all major aspects of the industry. Alcoa serves the aerospace, automotive, packaging, building and construction, commercial transportation and industrial markets, bringing design, engineering, production and other capabilities of Alcoa's businesses to customers. In addition to aluminum products and components, Alcoa also markets consumer brands including Reynolds Wrap[R] foils and plastic wraps, Alcoa[R] wheels, and Baco[R] household wraps. Among its other businesses are closures, fastening systems, precision castings, and electrical distribution systems for cars and trucks. The company has 129,000 employees in 44 countries and has been named one of the top most sustainable corporations in the world at the World Economic Forum in Davos, Switzerland. More information can be found at www.alcoa.com SMW Automotive Hong Kong is a wholly owned subsidiary of Concord International, a privately held Tier 1 supplier of chassis, brake components and systems headquartered in Troy, Michigan Troy is a city in Oakland County of the U.S. state of Michigan. It is a suburb of Detroit. As of the 2000 census, the city had a total population of 80,959, the 12th largest city in Michigan by population. with operations in the U.S., Canada, France, Brazil, and China. |
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