NEW YORK - Alcoa announced Friday it completed the creation of its soft-alloy extrusion joint venture with Sapa Group, part of Norwegian conglomerate Orkla ASA.
The joint venture involves the contribution of Alcoa's soft-alloy extrusion business into a joint venture company, Sapa AB. The new company is majority owned and operated by Stockholm–based Sapa.
Last November, Alcoa announced its plan to fold its soft-alloy business into a joint venture company with Orkla.
Alcoa is a producer and manager of primary aluminum, fabricated aluminum and alumina facilities.