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July 7, 2004
Alcoa Creates Global Building & Construction Systems Business; New Unit Combines European B&C Systems and Kawneer N. America; To Be Based in Geneva
PITTSBURGH--(BUSINESS WIRE)--July 7, 2004--Alcoa (NYSE:AA) today announced the creation of a new global Alcoa Building and Construction Systems business, that will combine the company's European Building and Construction systems business with its Kawneer North American operations. The combined entity will be one of the leading architectural systems, services and building products businesses in the world.
The new global business will be based in Geneva, Switzerland and will report to David W. Schlendorf, President, Alcoa Building and Construction Systems, and will be part of the Alcoa Europe group of companies headquartered there.
"This new business combines our capabilities from both sides of the Atlantic to put Alcoa in a position to serve customers and capture opportunities on an international scale," said Schlendorf. "In the past five years our European Building and Construction business has quadrupled revenues by focusing on our customers and the marketplace. Combining talented people and the Kawneer brand name -- the best-known brand name in the worldwide architectural systems business - with our existing Building and Construction Systems infrastructure should put us in a position of continued growth in this global market."
Alcoa BCS is focused on two lines of business: Architectural Systems and Architectural Products. Alcoa Architectural Systems operates in the UK, France, Germany, the Netherlands, Spain, Ireland and Morocco. The product range includes windows and doors, curtain wall systems, ground floor treatments and rainscreen cladding, all engineered to work together to produce a wide-variety of standard and custom facades. In addition, Alcoa Greenhouse Systems provides building systems to the agricultural industry throughout Europe. Alcoa Architectural Products produces coil-coated aluminum sheet and aluminum composite material under the trade names, Reynolux(R) and Reynobond(R). With operations in the U.S. and Europe, Alcoa Architectural Products markets its products to customers around the globe. Kawneer North America is a leading manufacturer of architectural aluminum building products and systems for the commercial construction industry. Its products include entrances, framing systems, windows and curtain wall systems used in applications such as high-, mid- and low-rise buildings as well as sports stadiums and retail complexes. It has 25 locations throughout North America.
From a financial reporting standpoint, the Kawneer business will no longer be included in assets held for sale as of the second quarter of 2004.
Alcoa is the world's leading producer and manager of primary aluminum, fabricated aluminum and alumina facilities, and is active in all major aspects of the industry. Alcoa serves the aerospace, automotive, packaging, building and construction, commercial transportation and industrial markets, bringing design, engineering, production and other capabilities of Alcoa's businesses to customers. In addition to aluminum products and components, Alcoa also markets consumer brands including Reynolds Wrap(R) foils and plastic wraps, Alcoa(R) wheels, and Baco(R) household wraps. Among its other businesses are vinyl siding, closures, fastening systems, precision castings, and electrical distribution systems for cars and trucks. The company has 120,000 employees in 41 countries and has been a member of the Dow Jones Industrial Average for 45 years and the Dow Jones Sustainability Indexes since 2001. More information can be found at www.alcoa.com