Alcoa to Sell Home Exteriors Business.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Alcoa (NYSE NYSE See: New York Stock Exchange :AA) today announced that it plans to divest its Alcoa Home Exteriors business which manufactures and markets premium products for the residential construction and remodeling remodeling /re·mod·el·ing/ (re-mod´el-ing) reorganization or renovation of an old structure. bone remodeling markets in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The business has 1,400 employees, had revenues of approximately $600 million in 2005, and its products include certified vinyl siding Wikipedia is not the place for advertisement or self-advertising. Vinyl siding, first introduced to the exterior cladding market in the late 1950s, is an alternative to aluminum siding, fiber cement siding, and timber siding. , 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 as well as railing for decks. "The Alcoa Home Exteriors business is a solid performer with good returns, but it no longer fits with our core global building and construction business portfolio," said Alain Belda, Alcoa Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . Alcoa Home Exteriors is among the nation's premier building products manufacturers, offering a portfolio of more than 14,000 products, serving all 50 states and selected markets. Today, one of every four homes with vinyl siding uses Alcoa or Mastic(R) siding. Alcoa Home Exteriors manufacturing facilities are located in: Atlanta, GA; Denison, TX; Gaffney, SC; Sidney, OH; and Stuarts Draft, VA. Lehman Brothers will serve as advisor to Alcoa on the transaction. Alcoa is the world's leading producer and manager of primary aluminum, fabricated aluminum and alumina facilities, 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 129,000 employees in 42 countries and has been named one of the top most sustainable corporations in the world at the World Economic Forum in Davos, Switzerland. More information can be found at www.alcoa.com |
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