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PITTSBURGH--November 20, 2000--
Alcoa Inc. today announced that it has agreed to acquire the assets of
Midwest Fastener Corporation, a privately held company with
manufacturing locations in South Holland, Illinois, and Valparaiso,
The price was not disclosed. The purchase will be free of debt and
long-term liabilities and is conditioned on regulatory approvals,
including expiration of applicable waiting periods and other customary
conditions. The acquisition is expected to be completed before the end
of January 2001.
Midwest Fastener has annual sales of approximately $55 million and 295
employees. Its product line is complementary with Alcoa's growing
automotive fastener business. Midwest Fasteners will be part of Alcoa's
Huck Fastener business.
Alcoa is the world's leading producer of primary aluminum, fabricated
aluminum and alumina. It provides customers in the packaging,
automotive, aerospace, construction and other markets with a variety of
fabricated and finished products. Alcoa has over 300 operating locations
in 36 countries.
Joyce A. Saltzman
Charles D. McLane