Alcan Inc, fighting a takeover attempt by Alcoa, on Wednesday announced it intended to expand operations in India through acquisitions and joint ventures.
Essel Propack, Amcore other contenders for $1bn deal.
Global aluminium giant Alcan Inc on Friday announced its plan to sell its 45 per cent stake in India's Utkal Alumina International Ltd, its joint venture with Aditya Birla group flagship Hindalco Industries.
It has signed a strategic alliance with the arm of global miner Rio Tinto for increasing its presence in India and abroad, NALCO said in a filing to the Bombay Stock Exchange. The agreement signed on Friday in Bhubaneswar, facilitates both companies to share information for identifying potential to create value for both the organisations, the filing added.
Albanese, 56, will take the helm on April 1.
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