Alcoa Agrees to Sell Russellville and St. Louis Foil Facilities to JW Aluminum.Business Editors PITTSBURGH--(BUSINESS WIRE)--March 15, 2004 Alcoa (NYSE NYSE See: New York Stock Exchange :AA) today announced it has agreed to sell its Russellville, Arkansas Russellville is a city in Pope County, Arkansas, United States. According to 2006 Census Bureau estimates, the population of the city is 25,520, ranking it as the state's 16th largest city, behind Benton.[1] The ZIP codes are 72802 and 72801. and St. Louis, Missouri foil facilities -- Alumax Foils -- to JW Aluminum. Terms were not disclosed. The sale is expected to be completed by March 31, 2004. The sale is part of Alcoa's previously announced (January 2003) divestiture program to sell certain non-core businesses. Proceeds from the sale will be used to pay down debt. Alumax Foils manufactures aluminum foil Noun 1. aluminum foil - foil made of aluminum aluminium foil, tin foil foil - a piece of thin and flexible sheet metal; "the photographic film was wrapped in foil" for sale to converters, who further process the foil to be used in pharmaceutical packaging, foodservice and other flexible packaging, industrial tapes, insulation, and various other end-uses. The business is fully integrated, including casting capability, and sells foil from light to heavy gauge in a variety of widths. It's the third largest producer of foil in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and employs approximately 300 people at the two facilities. JW Aluminum is a leading producer of specialty, flat-rolled aluminum products, including bare and coated fin stock, building and distributor sheet, automotive heat shields, cable wrap, litho lith·o n. pl. lith·os A lithograph. litho Noun pl -thos Adjective, adv short for lithography, lithograph, sheet and converter foil products. In December 2003, JW Aluminum became a member of the Wellspring well·spring n. 1. The source of a stream or spring. 2. A source: a wellspring of ideas. wellspring Noun Capital Management LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control family of companies. Alcoa is the world's leading producer of primary aluminum, fabricated aluminum and alumina, and is active in all major aspects of the industry. Alcoa serves the aerospace, automotive, packaging, building and construction, commercial transportation and industrial markets, bringing design, engineering, production and other capabilities of Alcoa's businesses to customers. In addition to aluminum products and components, Alcoa also markets consumer brands including Reynolds Wrap(R) foils and plastic wraps, Alcoa(R) wheels, and Baco(R) household wraps. Among its other businesses are vinyl siding, closures, fastening systems, precision castings, and electrical distribution systems for cars and trucks. The company has 120,000 employees in 41 countries. More information can be found at www.alcoa.com |
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