Alcoa establishes presence in China with Alliance to produce aluminum automotive components.Alcoa, Pittsburgh, announced that it has formed an alliance 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. , Hong Kong, China, to produce cast aluminum chassis Pronounced "chah-see," it is a physical structure that holds everything or that everything is attached to. A computer's cabinet is often called the 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., 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," said Misha Riveros Jacobson, president, Alcoa Auto and Truck Structures. |
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