Alcoa Takes Full Ownership in Tianjin Joint Venture

Alcoa announced that it has purchased the 30 percent interest in the Alcoa Closure Systems International (Tianjin) Co.,Ltd. joint venture currently owned by its partner China Suntrust Investment Group Co.,Ltd. The joint venture was established in 1994 to produce plastic closures for beverages.

Alcoa Closure Systems International (Tianjin) Co.,Ltd. is now a wholly owned foreign enterprise. CSI Tianjin received its new business license on November 24, 2005.

Alcoa's presence in China began in 1993 with the creation of the Alcoa Asia Ltd. representative office in Beijing. Since then, Alcoa has established thirteen wholly owned and joint venture operating companies that provide innovative solutions for customers in all major markets. Alcoa is the world's leading producer and manager of primary aluminum, fabricated 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.