Brazilian aluminium producer Companhia Brasileira de Alum?-nio (CBA) has signed an agreement to buy Arconic's operations in Itapissuma, in Brazil's northeastern state of Pernambuco, for $50 million, CBA announced on Monday August 26.
The unit has capacity to produce 50,000 tonnes per year of aluminium sheets and foils, CBA noted. The deal still has to be approved by antitrust regulation.Additionally, CBA is investing around 30 million Reais to expand its billet production capacity to 270,000 tpy from 180,000 tpy. Output is expected to start in 2020."[Arconic's operations] will add to existing rolled products, improving competitiveness in comparison with imports," CBA...