Alcoa (AA) signs a letter of intent to form a joint venture with state-owned China Power...

|By:, SA News Editor

Alcoa (AA) signs a letter of intent to form a joint venture with state-owned China Power Investment Corp. that will focus on producing high-end fabricated aluminum products in China. Earlier this year, the two companies signed a memorandum of understanding to cooperate in ~$7.5B of potential investment on projects during coming years. AA +1.9% premarket.