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Alcoa and Michigan Avenue Partners Complete Sale of Longview Smelter
PITTSBURGH and CHICAGO--February 27, 2001--
Alcoa Inc. and Michigan Avenue Partners (MAP) jointly announced today
that the sale of the 204,000-metric ton-per-year Longview, Wash.,
aluminum smelter to MAP has been completed. Alcoa was required to sell
an interest in Longview as a condition of the European Union approval of
Alcoa's acquisition of Reynolds Metals Company. Agreement on the sale
was announced last December. Terms were not disclosed.
Michael Lynch, chairman of MAP, announced it is renaming the facility,
Longview Aluminum, L.L.C. and that additional details regarding the
plans for the operation of the smelter would be announced later this
week.
MAP is a Chicago investment group and its affiliates include Longview
Aluminum, L.L.C., McCook Metals L.L.C., Scottsboro Aluminum L.L.C.,
Great Lakes Metals L.L.C. and Great Lakes Processing L.L.C. McCook
Metals is the second largest aluminum plate company in North America,
producing specialty products for aircraft, aerospace and defense
industries, such as the aluminum-lithium alloy plate for NASA's Space
Shuttle Program and for military aircraft.
Alcoa is the world's largest leading producer of primary aluminum, and
alumina. It is active in all major segments of the industry -- mining,
refining, smelting, fabricating and recycling.
Editorial contacts:
Joyce Saltzman
Alcoa Inc.
412-553-4467
Paul Frank
McCook Metals
312-573-5450
Investor Relations:
Charles D. McLane
Alcoa Inc.
212-836-2674
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