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Alcoa Completes Acquisition Of Cordant PITTSBURGH--May 25, 2000--
Alcoa Inc. announced today that it completed its acquisition of Cordant
Technologies Inc. As a result of the merger, which became effective
today, each outstanding share of Cordant common stock was converted into
the right to receive $57 in cash, without interest. Cordant stock ceased
trading on the New York Stock Exchange at the close of business on
Wednesday, May 24, 2000. Cordant stockholders who hold their own stock
certificates will receive notice in the mail regarding the process to
surrender their shares for cash.
Cordant stockholders whose shares are held through banks or brokers will
receive information about their holdings from those institutions.
Cordant Technologies brings to Alcoa technology expertise in products
and materials related to existing Alcoa businesses and markets. It is
composed of three market-leading business groups: Howmet Castings, a
supplier of investment cast super-alloy and titanium components used in
jet aircraft and electrical power generation; Huck Fasteners, a designer
and manufacturer of high-performance fasteners and fastening systems;
and Thiokol Propulsions, a supplier of solid rocket propulsion systems.
Cordant Technologies has approximately 17,000 employees worldwide at
some 58 facilities located in five countries: U.S., Canada, France,
United Kingdom and Japan.
Editorial Contact: Bonita A. Cersosimo
1 412 553 4462
Investor Relations: Edgar M. Cheely, Jr.
Randall J. Killeen
1 412 553 2231