Chinalco ruimin aluminum plate belt co. LTD was established

With the approval of the fujian provincial government and the approval of the state-owned assets supervision and administration commission of the province, the newspaper reported that the company has completed all the work of assets reorganization of fujian ruimin aluminum banding co., LTD. It was approved that fujian ruimin aluminum plate and tape co., LTD was renamed as "chinalco ruimin aluminum plate and tape co., LTD". New company registered capital of 52.56 million dollars, aluminum corporation of China (chinalco) for $26.28 million (50%), south aluminum to spend $13.14 million m (25%), China fujian MILLEN LIMITED capital contribution of $13.14 million (25%).

Ruimin aluminum sheet belt assets reorganization work on September 10, 2004 in Beijing signed cooperation letter of intent. With the research and approval of the governor's office (minutes of the governor's office meeting no. 12 of the provincial government), the provincial sasac will reply with the fujian state-owned assets property right no. 87. According to relevant regulations and procedures of state-owned property rights management, nan 'al has completed the work of assets verification, auditing and asset appraisal in the qing dynasty. Article 91, 92, 99, 95, 100, 110 and [4] 148 of the fujian provincial sasac shall approve or approve the relevant content. According to the spirit of approval in south fujian and chinalco, China aluminum company on November 26, 2004 in Beijing signed share transfer agreement, the capital increase agreement, a joint venture contract and articles of association (revised edition), the worker labor relations processing, supplementary agreement and so on six formal agreement. On December 7, 2004, the province economic and trade office approval such as equity transfer matters, and according to the prescribed procedures to complete the formalities of company capital verification, and industrial and commercial registration of change, the founding conference held on December 19, 2004 the company.

The assets reorganization, including the asset sales (rui min aluminium roll lease bring rui min aluminum assets directly sold to fujian aluminum belt), equity transfer (hua min MILLEN LIMITED for $2.43 million south aluminum holding the transferee of rui min aluminum plate with 6.1414% of the $39.5675 million registered capital; At the same time, the south China aluminum for $2.43 million transfer is fujian CHATON LIMITED held for rui min 21.45% stake in aluminium roll with a registered capital of us $11.329 million), capital reserves turn add capital (rui min aluminum capital reserves $4437516.29 to $36727547.29, Negotiating the rights belong to the south of aluminum capital accumulation fund turn add for south capital contribution), equity transfer (with 103.6708 million yuan price for chinalco south aluminum holding the transferee of rui min 33.58188% stake) of aluminum plate with a registered capital of 39.5675 million dollars, increase endowment spread (chinalco capital increase of registered capital of us $12992483.71), complex content, approval process, there is big, but, in the joint efforts of all aspects, after more than two months work, achieve the win-win results, to rui min aluminum plate with the current and long-term development has the vital significance, It is also very conducive to the steady development of south aluminum.

Chinalco is compiling the chinalco aluminum processing leapfrog development strategy - aluminum processing, strategic planning, planning and increase endowment spread by the transferee equity chinalco rui min after holding 50%, accelerate the chinalco fujian cold rolling project, increase the investment to expand the aluminum foil, machine and other supporting project, make the enterprise do large scale, using chinalco southwest aluminum belt co., LTD., provide high-quality hot-rolled coil, release the CVC chinalco red fujian advanced cold rolling mill capacity, make the company in 2006 to form the annual output of 130000 tons of aluminum plate (foil) processing capacity, production doubled, based on the current product sales income is 2 billion yuan (excluding tax), Realize 150 million yuan of interest and tax.