Alcoa Completes Acquisition of Cordant.Business Editors PITTSBURGH--(BUSINESS WIRE)--May 25, 2000 Alcoa Inc. announced today that it completed its acquisition of Cordant Technologies Inc. As a result of the merger, which became effective today, each outstanding share of Cordant common stock was converted into the right to receive $57 in cash, without interest. Cordant stock ceased trading on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. at the close of business on Wednesday, May 24, 2000. Cordant stockholders who hold their own stock certificates will receive notice in the mail regarding the process to surrender their shares for cash. Cordant stockholders whose shares are held through banks or brokers will receive information about their holdings from those institutions. Cordant Technologies brings to Alcoa technology expertise in products and materials related to existing Alcoa businesses and markets. It is composed of three market-leading business groups: Howmet Castings Headquartered in Cleveland, Ohio, Howmet, a division of Alcoa is a world leader in the investment casting of superalloys, aluminum and titanium primarily for jet aircraft and industrial gas turbine (IGT) engine components. , a supplier of investment cast super-alloy and titanium components used in jet aircraft and electrical power generation; Huck huck n. Huckaback. Noun 1. huck - toweling consisting of coarse absorbent cotton or linen fabric huckaback toweling, towelling - any of various fabrics (linen or cotton) used to make towels Fasteners fasteners In construction, connectors between structural members. Bolted connections are used when it is necessary to fasten two elements tightly together, especially to resist shear and bending, as in column and beam connections. , a designer and manufacturer of high-performance fasteners and fastening systems; and Thiokol Propulsions, a supplier of solid rocket propulsion Rocket propulsion The process of imparting a force to a flying vehicle, such as a missile or a spacecraft, by the momentum of ejected matter. This matter, called propellant, is stored in the vehicle and ejected at high velocity. systems. Cordant Technologies has approximately 17,000 employees worldwide at some 58 facilities located in five countries: U.S., Canada, France, United Kingdom and Japan. |
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