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PrintAluminum Corp of China (Chalco,601600.SH; 2600.HK) announced Tuesday that it will buy part of the assets of Pingguo Aluminum from its parent Chinalco for 96.39 million yuan.
Pingguo Aluminum is a wholly owned subsidiary of Chinalco. It transferred all the aluminum-related assets except an alloy workshop to Chalco before Chalco was listed in 2001.
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