LONDON — The maker of the widely used plastic and glass products used in televisions, computers and cars will supply aluminium and other building materials to China for its ambitious plan to build a global supply chain for the world’s largest consumer market.
Lowes said on Thursday it was acquiring Alberts Aluminum from Chinese conglomerate Alberter Group for $1.4 billion, raising the total value of the deal to about $9.6 billion.
The deal includes the production and processing of aluminium for use in the production of consumer products, said Lowe’s Chief Executive Officer Jeff Smith.
Lowe’s has long said it is interested in buying Alberters aluminum, a company that makes some of the most popular building materials used in consumer products and other high-end consumer products.
Alberton is one of the world\’s leading aluminum suppliers and its aluminum products are used in products ranging from refrigerators and washing machines to televisions and laptops.
Alberts also makes plastic for many consumer products such as shampoo, toothpaste and detergents.
Lowell\’s acquisition of Albertons aluminum and the Albertrons manufacturing of aluminum and other products will enhance Lowe\’s ability to supply a global base of aluminum for the use in high-volume consumer goods and other low-end products, Smith said.
Albers aluminum products can be used in high volume consumer goods, such as TVs, laptops, appliances, personal care products and household items.
Lowes hopes that Albertans aluminum will be used for the mass production of its consumer products in the U.S. and China.
Lowel’s Aluminum unit is focused on building a global supplier of high-value aluminum and glass, Smith added.
Lowetts aluminum is the world leader in its use in products such like televisions.
Lowe\’ s aluminum and its sister brands Alber, Alberther and Alberten are the top three brands in the aluminum and metal product market in the United States, according to the U-M Research Institute for the Americas.
The company sells more than 40 million pieces of aluminum annually and in 2011 sold about $2.8 billion in aluminum products, the institute said.
Lowen is the leading aluminum and building material producer in the world, Smith noted.
The business is growing by more than 10% annually and has more than 7,500 jobs worldwide.
Lowers aluminum and Albers aluminum are also the largest consumer products companies in the Middle East and Asia, according the institute.
Albers is a major aluminum supplier to Middle Eastern countries, and its products are made in China, Singapore and Taiwan.