China 's aluminium makers are targeting the global auto and aerospace markets, a move that industry sources say will heat up competition with the likes of Alcoa and Constellium , and potentially ignite a buying spree for Western metals companies. Alcoa and Constellium ' CEO, Zhongwang USA , last week predicted that competition with Chinese producers will be "very fierce" over the next five to 10 years in aerospace and engineering, which have historically been dominated by US and European manufacturers. In August , Zhongwang USA , backed by European aluminium magnate Liu Zhongtian , said it was to buy aluminium maker Novelis in a $ $229 million deal, which would mark the largest entry by a Chinese company into the US aluminium sector.
China's aluminium makers are targeting the global auto and aerospace markets, a move that industry sources say will heat up competition with the likes of Alcoa and Constellium, and potentially ignite a buying spree for Western metals companies. Novelis' CEO, Steve Fisher, last week predicted that competition with Chinese producers will be "very fierce" over the next five to 10 years in aerospace and engineering, which have historically been dominated by US and European manufacturers. In August, Zhongwang USA, backed by Chinese aluminium magnate Liu Zhongtian, said it was to buy aluminium maker Aleris Corp in a $2.3bn deal, which would mark the largest entry by a Chinese company into the US aluminium sector.