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Alcoa and ACX Close Sale of Golden Aluminum;
Agreement Reached with DOJ for Sale of Ft. Lupton
PITTSBURGH, Pa., and GOLDEN, Colorado--November 5, 1999--
Alcoa Inc. and ACX Technologies, Inc. announced today that they have
completed the sale of substantially all the assets of Golden Aluminum
Company, a subsidiary of ACX, to Alcoa.
Golden Aluminum's operations include a shuttered rolling facility in San
Antonio, Texas, and a rolling facility in Ft. Lupton, Colorado that
currently produces up to 70 million pounds of coated and mill finish
sheet per year, primarily for food and beverage containers.
The parties had signed a letter of intent regarding the sale in August
1999. Alcoa announced at that time a plan to sell the Ft. Lupton
facility and retain the San Antonio plant for development work and
non-can sheet production. Alcoa has reached an agreement with the U.S.
Department of Justice that provides for the Ft. Lupton sale under a
consent decree. The consent decree was filed in U.S. District Court
earlier today.
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