Brazilian aluminium producer Companhia Brasileira de Alum?-nio (CBA) signed a deal to acquire an 80% share of Alux do Brasil, a local secondary alloy producer, for 110 million Reais ($20 million), it said on Thursday November 4.
The company will be able to increase its recycling capacity by 20% with the new asset, as well as enter a new business segment of selling secondary aluminium alloys mostly to the automotive industry, it said. The acquisition will also provide CBA a new outlet to expand production capacity in the future.Under the agreement, CBA has an option to buy...