Year





Printer Friendly Version
go





In addition to www.alcoa.com, Alcoa is an active participant in and uses social media to communicate information about the company. Facebook, Twitter, YouTube and LinkedIn are powerful tools that allow us to connect with our customers, investors, potential employees and fans.

Alcoa on FacebookAlcoa on Facebook
Alcoa on LinkedInAlcoa on LinkedIn
Alcoa on TwitterAlcoa on Twitter
AlcoaTV on YoutubeAlcoaTV on Youtube

December 30, 1997

Alcoa Statement

PITTSBURGH--December 30, 1997-- The following letters were sent today by Alcoa to the U.S. Department of Justice and Reynolds Metals Company.

--------------------------------------------------------------------------------

December 30, 1997
Joel I. Klein, Esq.
Assistant Attorney General
Antitrust Division
U.S. Department of Justice
10th & Constitution Avenue, N.W.
Washington, D.C. 20530

Dear Mr. Klein:

In light of the position taken by the Antitrust Division of the U.S. Department of Justice, as evidenced by the filing yesterday of a lawsuit in the Northern District of Alabama, to stop the proposed sale to Alcoa of the Reynolds Metals Company's aluminum rolling mill in Muscle Shoals, Alabama, please be advised that today we have communicated to Reynolds Metals Company Alcoa's decision not to go forward with the planned acquisition.

For your reference, a copy of the letter delivered to Reynolds today is attached.

Very truly yours,

Lawrence R. Purtell
Executive Vice President
Environment, Health & Safety
and General Counsel

--------------------------------------------------------------------------------

December 30, 1997
Mr. Jeremiah J. Sheehan
Chairman of the Board and
Chief Executive Officer
Reynolds Metals Company
6601 West Broad Street
Richmond, VA 23230

Dear Jerry:

We were advised last night that the Antitrust Division of the U.S. Department of Justice has filed suit to stop the proposed sale to Alcoa of Reynolds' aluminum rolling mill in Muscle Shoals, Alabama.

In light of the DOJ position in this matter, we have decided not to go forward with our planned acquisition. Thus, the Letter of Intent dated April 14, 1997 is no longer operative and we consider it as having no further effect.

Today we will be notifying the Department of Justice of that decision.

Sincerely yours,

Paul H. O'Neill
Chairman and Chief Executive Officer