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Alcoa Signs Letter of Intent to Acquire Pechiney's Bright Products Business
PITTSBURGH, Pa., U.S.A. and PARIS, France--October 5, 1998--
Alcoa and Pechiney announced today that they have signed a letter of
intent for Alcoa to acquire the bright products business of Pechiney's
Rhenalu rolling plant located at Catelsarrasin near Toulouse, France.
The transaction is expected to be completed by the end of the year.
Examples of bright products are lighting fixtures, decorative
applications and cosmetic packaging.
The bright products business will become a part of the Flat Rolled
Products segment of Alcoa Europe, an Alcoa business unit. Headquartered
in Lausanne, Switzerland, Alcoa Europe is responsible for Alcoa's
primary, flat-rolled products and extrusion businesses there.
Alcoa is the world's largest producer of aluminum and alumina. Alcoa
participates in all major segments of the industry: mining, refining,
smelting, fabricating and recycling.
Pechiney Rhenalu is the aluminum mill products division of the Pechiney
Group, the leading European producer and the world's fourth largest
producer of primary aluminum. Pechiney Rhenalu is the leading European
producer of can stock and technical rolled products, with a strong
worldwide position of heavy plate for the aerospace and transportation