Alcoa to ramp up production at plants
By Maggie Zhang |
October 11, 2010, Monday
|
Print Edition
Print Edition
ALCOA Inc is poised to ramp up its three fabrication plants in China as the United States company seeks to tap China's shift to an energy-efficient economy, its head told Shanghai Daily yesterday.
The two facilities in Kunshan and Suzhou in neighboring Jiangsu Province and the one in Qinhuangdao in Hebei Province make aluminum products for aerospace, high-speed trains, printing and automobiles.
Klaus Kleinfeld, chairman and chief executive officer of Alcoa, said that the firm makes 100 percent value-added products as it does not have primary aluminum production in China.
China needs to shift to a growth model that places emphasis on innovative products and Alcoa is keen to ride on the country's demand for more energy efficient products, he said.
"Innovation for us is not fancy at all, it's an essential for us," Kleinfeld reiterated.
Chen Jinya, president of Alcoa Asia-Pacific and Alcoa China, said China stands out as the major growth opportunity for the aluminum industry, and that the firm is growing faster than the market average of 16 percent in its segment in China.
Alcoa, whose Asia-Pacific headquarters are in Beijing, has invested US$700 million in China so far and employs 954 people, its website said.
Alcoa, the US largest aluminum producer, last week reported third-quarter earnings, excluding certain items, of 9 cents a share, topping the 5-cent average estimate of 16 analysts surveyed by Bloomberg News.
The two facilities in Kunshan and Suzhou in neighboring Jiangsu Province and the one in Qinhuangdao in Hebei Province make aluminum products for aerospace, high-speed trains, printing and automobiles.
Klaus Kleinfeld, chairman and chief executive officer of Alcoa, said that the firm makes 100 percent value-added products as it does not have primary aluminum production in China.
China needs to shift to a growth model that places emphasis on innovative products and Alcoa is keen to ride on the country's demand for more energy efficient products, he said.
"Innovation for us is not fancy at all, it's an essential for us," Kleinfeld reiterated.
Chen Jinya, president of Alcoa Asia-Pacific and Alcoa China, said China stands out as the major growth opportunity for the aluminum industry, and that the firm is growing faster than the market average of 16 percent in its segment in China.
Alcoa, whose Asia-Pacific headquarters are in Beijing, has invested US$700 million in China so far and employs 954 people, its website said.
Alcoa, the US largest aluminum producer, last week reported third-quarter earnings, excluding certain items, of 9 cents a share, topping the 5-cent average estimate of 16 analysts surveyed by Bloomberg News.
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