Printer Friendly

ALCOA FORMS TWO NEW CHEMICAL COMPANIES

 CHARLOTTE, N.C., Sept. 8 /PRNewswire/ -- Two new regional industrial chemicals companies, ACAP Chemicals Pte. Ltd. and ACAP-Australia Pte. Ltd., have been established in a joint agreement by two Alcoa (NYSE: AA) units -- Alcoa of Australia and Alcoa Industrial Chemicals Division, it was announced today.
 Alcoa said the agreement forming the new companies was "to further develop and expand the markets for Alcoa industrial chemicals, particularly in the Pacific Rim region."
 ACAP Chemicals Pte. Ltd. will be headquartered in Singapore and ACAP- Australia will be located in Western Australia outside of Perth. Alcoa Industrial Chemicals Division, wholly owned by Alcoa, owns 60 percent, and Alcoa of Australia, 51 percent owned by Alcoa, owns 40 percent of each company. Both companies will assume Alcoa's existing chemicals business from Western Australia and are developing other value added products for production and distribution throughout the world.
 William Reid, managing director of the ACAP companies, said the new companies represent a significant effort within Alcoa to develop a common platform to leverage its vast Australian alumina capabilities with the process and production technology of its worldwide industrial chemicals division. He said that the ACAP formation is an opportunity for Alcoa to significantly grow its chemicals business and capitalize on the strengths of its international organization. "We recognize the need for global coordination of our businesses and this venture is intended as a step in that direction."
 Feedstocks for the production operations will be purchased from Alcoa of Australia in Western Australia and processed into various chemicals for domestic sales in Australia and New Zealand, while export sales have grown to include Asia, Europe, and the United States. Current products are being supplied to water treatment, paper sizing, ceramics, refractories and abrasives markets. New product developments are targeted at plastics, fillers, coatings, zeolites, electronic ceramics, and the petroleum processing markets.
 -0- 9/8/93
 /CONTACT: J.M. Arnold of Alcoa, 412-788-5767/
 (AA)


CO: ACAP Chemicals Pte. Ltd.; ACAP-Australia Pte. Ltd.; Alcoa; Alcoa of
 Australia; Alcoa Industrial Chemicals Division ST: Pennsylvania IN: CHM SU: JVN


KC -- PG004 -- 9700 09/08/93 10:05 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 8, 1993
Words:348
Previous Article:FRIGIDAIRE COMPANY SELECTS EDS AS INFORMATION TECHNOLOGY AND VALUE-ADDED SERVICES PROVIDER
Next Article:VANGUARD REAL ESTATE FUND II REVISES OPERATING RESULTS
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters