Aluminum Corp of China cutting costs but eyeing acquisitions

Tue. September 02, 2008; Posted: 03:07 AM

BEIJING, Sept 2, 2008 (Asia In Focus via COMTEX) -- ACH | Quote | Chart | News | PowerRating -- ALUMINUM CORP OF CHINA LTD, or CHALCO, the country's largest aluminum producer, yesterday said it would cut costs but will continue to explore overseas acquisition opportunities. "Chalco will postpone the completion of some projects and reassess new projects to tighten control on expenditure and ensure sufficient working capital," said Xiao Yaqing, chairman and CEO of Chalco, at a news briefing yesterday.

* Xiao also said the company is considering a plan to spin off its copper business for a separate stock listing but refused to elaborate.

* He said Chalco would step up the integration of the domestic processors it acquired to increase profits so that they can make greater contributions to the earnings of the listed company.

For full details on Aluminum Corp. of China Ltd. ADS (ACH) click here. Aluminum Corp. of China Ltd. ADS (ACH) has Short Term PowerRatings of 4. Details on Aluminum Corp. of China Ltd. ADS (ACH) Short Term PowerRatings is available at This Link.

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