Alcoa (NYSE:AA) and Rosnano Corporation are reportedly close to launching several new projects, with several high-potential ventures already in the pipeline, according to Rosnano CEO Anatoly Chubais.
Although Chubais wouldn't elaborate on the projects, it is known the two companies are collaborating on studying the use of nanotechnologies in oil and gas, and new ways to transmit energy, as well as new lighting systems.
Alcoa hasn't commented much on it, but there have been several strategies they seem to be employing that are outside its core business, possibly to move out of the cyclical nature of their primary aluminum business.
EVA Dimensions upgraded Alcoa from "Underweight" to "Hold."
The aluminum producer closed Thursday at $12.78, losing $0.17, or 1.31 percent.
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