Aluminium producer Vimetco NV (Nachrichten) said its majority owned Henan Zhongfu Industry Co Ltd has agreed to acquire Lifeng Aluminium for around 35 mln usd.

China-based Lifeng Aluminium has a production capacity of 110,000 tonnes per year and power generation facilities of 110 megawatt. It had revenues of around 228 mln usd in 2006, the company said in a statement.

'The existing 60,000 tpy (tons per year) wire rod and 30,000 tpy billet production capacity at Lifeng Aluminium support our strategic shift towards higher added value products,' Vimetco chief executive Christian Wust said.