The Wall Street Journal-20080206-Alcoa Inc-- Aluminum Partnership To Buy Chinese Company

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Alcoa Inc.: Aluminum Partnership To Buy Chinese Company

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Swedish aluminum-parts company Sapa AB, a partnership between Norwegian conglomerate Orkla ASA and U.S. aluminum company Alcoa Inc., agreed to buy a Chinese company, Kam Kiu Aluminium, for an undisclosed sum to get a better foothold in China, Orkla said yesterday. Orkla holds a 54% stake in Sapa. The Chinese extrusion company has annual revenue of 1.38 billion Swedish kronor ($217.8 million) and 2,100 employees, said Orkla, a food-and-metals conglomerate. The deal is expected to close in the second quarter.