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Alcoa to exit UK automotive industry venture

NEW YORK, Feb 15 (Reuters) - U.S. aluminum giant Alcoa on Tuesday said it planned to exit Alcoa Lingotes Castings Ltd., a joint venture set up in 2000 to produce specialty cast components for the automotive industry.

Alcoa said it would pursue "an aggressive plan" to sell its majority stake in the venture as the operations no longer fit its strategic objectives.

Alcoa Lingotes's sole operating location is in Leyland, England, where it employs 110 people.