Alcoa Home Exteriors, Inc. Acquires Owens Corning's Production Facility in Atlanta.Business Editors PITTSBURGH--(BUSINESS WIRE)--March 5, 2003 Alcoa Home Exteriors, Inc., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Alcoa, Inc., announced today that it has completed its acquisition of Owens Corning's vinyl production facility in Atlanta, Georgia. The purchase of the 225,000 square foot site brings to three the number of vinyl extrusion facilities owned by Alcoa Home Exteriors, including sites in Stuarts Draft, Va. and Denison, Texas Denison is a city in Grayson County, Texas, United States. The population was 22,773 at the 2000 census, but had increased to an estimated population of 23,957 in July 2006. . The company first announced its agreement to acquire the plant in late January. Details of the transaction were not disclosed. Alcoa Home Exteriors produces and markets more than 3,000 siding, trim and accessory products for residential remodeling remodeling /re·mod·el·ing/ (re-mod´el-ing) reorganization or renovation of an old structure. bone remodeling , new construction and light commercial applications. The Owens Corning Owens Corning Corporation is the world's largest manufacturer of fiberglass and related products. It was formed in 1935 as a partnership between two major American glassworks, Corning Glass Works and Owens-Illinois. The company was spun off as a separate entity November 1, 1938. deal follows its purchase of Richwood Building Products, a gable and shutter supplier, based in Richwood, Ky. in November, and the announcement earlier this month of the expansion of its injection molding injection molding n. A manufacturing process for forming objects, as of plastic or metal, by heating the molding material to a fluid state and injecting it into a mold. facility in Gaffney, S.C. Gary Acinapura, president of Alcoa Home Exteriors, said the moves, which include the company's new name, support an organic growth strategy. "Our vision is to be the leading provider of color not of the white race; - commonly meaning, esp. in the United States, of negro blood, pure or mixed. See also: Color and design solutions in the home exteriors market. With the programs we are putting in place, and the increased capacity to our overall system through expansions and acquisitions, we are sending a signal to the marketplace that we are committing the resources, and have the capacity, to meet our customers' needs." While no physical expansions are planned for the Atlanta location, most of the current 120-member workforce will be retained as it is integrated into Alcoa's vinyl siding production operations. The facility was scheduled for closure by Toledo, OH-based Owens Corning, which is reorganizing under Chapter 11 bankruptcy protection. About Alcoa Home Exteriors Headquartered in Pittsburgh, PA, Alcoa Home Exteriors, Inc., a wholly owned subsidiary of Alcoa, Inc., is a leading U.S. manufacturer of vinyl and aluminum products for the remodeling and new construction markets, featuring both the Mastic(R) premium brand siding and the Alcoa Classic Living Siding. Alcoa Home Exteriors offers 41 years of experience in manufacturing and marketing a broad selection of exterior building products, including premium siding, soffit, shutters, decorative accessories and aluminum gutters, soffit, fascia fascia (făsh`ēə), fibrous tissue network located between the skin and the underlying structure of muscle and bone. Fascia is composed of two layers, a superficial layer and a deep layer. and trim. Alcoa Home Exteriors operates manufacturing and warehousing facilities in Ohio, Virginia, South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. , Texas, and Georgia. For more information, visit www.alcoahomes.com, or call (800) 962-6973. |
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