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Alcoa Signs Letter of Intent to Acquire Reynolds Metals Alloys Assets
PITTSBURGH--April 21, 1997--
Alcoa announced today that it has signed a letter of intent to acquire
the Reynolds Metals Company Alloys assets located in Muscle Shoals and
Sheffield, northern Alabama. Terms were not disclosed.
Direct responsibility for the Alloys assets will reside with the Alcoa
Rigid Packaging business unit headquartered in Knoxville, Tenn. The
Rigid Packaging unit has six operating facilities in four countries. It
is one of 21 Alcoa business units.
Alcoa is the world's leading aluminum producer with 1996 revenues of
$13.1 billion. The company has 178 operating locations in 28 countries.