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LONDON--April 7, 2000--
Alcoa Inc. and Wassall plc. announced today that Alcoa has acquired MCG
Closures Limited from Wassall plc. The acquisition includes MCG
Closures' plants near Birmingham, England; Rieti, Italy; and a
distribution center in The Netherlands. Terms of the deal were not
MCG will become part of Alcoa Closure Systems International (CSI), one
of 25 Alcoa business units and a leading global manufacturer of plastic
closures for the beverage industry. CSI's European operations include
plastic closure manufacturing facilities in Spain, Hungary and Russia,
with an aluminum closure facility, closure application machinery plant
and R&D Center in Germany. All are managed from a European headquarters
near London. The combined CSI-MCG company will employ over 1000
employees in Europe.
"The acquisition of MCG Closures supports our strategy of giving
customers access to a pan-European closure system encompassing closures,
application machinery and technical service," said Marcus Billman,
general manager of Alcoa CSI Europe. "By adding the MCG plants in the UK
and Italy and pooling our research and development facilities, we will
be able to offer even better manufacturing and logistics coverage. Our
combined product range will also be broader, offering customers a wider
selection of closure systems."
Mr. Billman added, "This acquisition brings together companies whose
activities and geography are complementary. Customers will benefit from
future efficiencies by combining management, logistics, manufacturing
and research and development activities on a pan-European basis while
maintaining local presence for customer service. MCG is an existing
licensee of Alcoa CSI's proprietary compression molding manufacturing
technology. This will facilitate a rapid integration of MCG products
into the Alcoa CSI product portfolio."
Alcoa is the world's leading producer of primary aluminum, fabricated
aluminum and alumina. It is active in all major segments of the
industry: mining, refining, smelting, fabricating and recycling.
Some of the statements made in this press release are forward looking.
Actions resulting from the acquisition by Alcoa CSI Europe of MCG
Closures Limited may differ from those implied. Factors such as changes
in economic conditions in the markets we serve may cause future actions
to differ from those predicted today.