Aluminum manufacturer Alcoa Inc. has completed formation of a joint venture with Sweden’s Sapa Group, creating the world’s largest aluminum profile company. The joint venture, called Sapa AB, will have annual sales of $4.5 billion and 12,000 employees. Sapa, part of Norwegian conglomerate Orkla ASA, will own a majority of the company.
Alcoa will contribute 22 soft-alloy extrusion facilities in eight countries to the joint venture. Soft-alloy extrusions are alloy profiles used in industries such as construction and automotive. Pittsburgh-based Alcoa is currently in a hostile bid to buy Canadian aluminum rival Alcan Inc.