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Monday, April 4, 2011

Japan Sumitomo Light-lead group to purchase U.S. ARCO Aluminum

Sumitomo Light Metal Industries said on Monday it has led a group of Japanese firms in buying U.S.-based ARCO Aluminum from a subsidiary of British oil major BP Plc for $680 million. Other firms in the Japan consortium are Furukawa-Sky Aluminum Corp , Sumitomo Corp , Itochu Corp and Itochu Metals Corp.(See related story at: nWLA7124) (Reporting by James Topham)