Alcoa and Silgan Holdings sign letter of intent for Silgan to acquire Alcoa's Richmond facility.PITTSBURGH--(BUSINESS WIRE)--March 17, 1997--Alcoa and Silgan Holdings Inc. of Stamford Stamford, town, England Stamford, town (1991 pop. 18,127), in the Parts of Kesteven, Lincolnshire, E central England, on the Welland River. It is a market town. Products include diesel engines, electrical equipment, bricks, and tiles. , Conn., have signed a letter of intent for Silgan to acquire the assets of Alcoa's Richmond Richmond, cities, United States Richmond. 1 City (1990 pop. 87,425), Contra Costa co., W Calif., on San Pablo Bay, an inlet of San Francisco Bay; inc. 1905. , Ind IND Investigational new drug Therapeutics A status assigned by the FDA to a drug before allowing its use in humans, exempting it from premarketing approval requirements so that experimental clinical trials may be conducted. See Phase 1.2, 3 studies, Sponsorship. ., aluminum closure business, which is part of the Alcoa Closure Systems International business unit. The 1996 revenue of the Richmond aluminum closure business was approximately $45 million. Silgan Holdings is a leading North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. manufacturer of consumer goods consumer goods Any tangible commodity purchased by households to satisfy their wants and needs. Consumer goods may be durable or nondurable. Durable goods (e.g., autos, furniture, and appliances) have a significant life span, often defined as three years or more, and packaging products with 1996 revenues of $1.4 billion. Alcoa is the world's largest aluminum producer, with 1996 revenues totaling $13 billion. The company has 170 operating locations in 28 countries. Terms of the letter of intent were not disclosed, and completion of the transaction will be subject to the successful negotiation by the parties of a definitive asset purchase agreement. CONTACT: Alcoa Joyce Saltzman, 412/553-4467 OR Silgan Corporation R. Philip Silver, 203/975-7110 |
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