16 Apr 2019
Rusal is making its first investment in the United States since Washington lifted sanctions against the Russian aluminum giant, teaming up with U.S. manufacturer Braidy Industries to build a mill in Kentucky.
Rusal, the world’s largest aluminum producer outside China, announced the deal in one of the main markets for the sector less then three months after it was removed from a blacklist. It had already resumed supplies to the U.S. market.
The U.S. imposed sanctions on Rusal and its co-owner Oleg Deripaska in April 2018. Sanctions against Rusal and its parent En+, were lifted in January as Deripaska reduced his stake after months of talks and several extensions of the deadline for sanctions to take full effect.
Rusal and aluminum alloys manufacturer Braidy will create a joint project to produce flat-rolled aluminum products for the U.S. automotive industry, the Russian company said on Monday.
By Polina Devitt, Reuters, 15 April 2019
Read more at Reuters
Advance your CPD minutes for this content, by signing up and using the CPD WalletFREE CPD Wallet