United Company RUSAL
UC RUSAL (Russian РУСАЛ, abbreviation for Русский алюминий, German Russian Aluminum ) is a Russian company. Since the merger with the Siberian - Urals Aluminium Company ( SUAL ) in 2007, RUSAL is the world's largest producer of aluminum. The company covers 75 % of Russia's domestic demand for aluminum from. The primary aluminum production in 2008 amounted to 4.4 million tonnes at a workforce of about 75,000 in 19 states.
RUSAL was created in 2000 by the merger of the aluminum businesses of Sibirsky Aluminium and Sibneft. The company is then grown through global acquisitions.
In March 2007, RUSAL acquired the former SUAL and the aluminum division of Glencore. Since that time, the previous owner RUSAL 66%, the former SUAL owners held 22 % and Glencore 12 % stake in the much extended enterprise. By consolidating the aluminum divisions of several companies RUSAL gained the position of the world's largest aluminum producer.
In the course of further changes in the ownership structure of the Group in April 2008, Russian entrepreneur Oleg Deripaska took over his Basic Element holding 56.7 percent of the shares of RUSAL. Further shares acquired Viktor Vekselberg with 18.9%, Mikhail Prokhorov with 14.0% and registered in Switzerland company Glencore with 10.3%.