China Zhongwang Holdings on Wednesday announced that it will purchase Germany's Aluminiumwerk Unna AG.
The company did not provide further details such as a time frame for completing the acquisition and amount involved.
But Zhongwang President Lu Changqing was quoted in a press release as saying that the merger could "speed up this company's expansion in aviation, automobiles and other areas and improve overall strength."
Zhongwang is one of China's leading aluminum product processors and Aluminiumwerk supplies certain aluminum products to aviation and auto companies, including Airbus and Mercedes-Benz.
