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| September 25, 2006
Alcoa Signs Agreement to Sell Home Exteriors Business to Ply Gem Industries
NEW YORK--(BUSINESS WIRE)--Alcoa (NYSE:AA) announced today that it has signed a definitive
agreement to sell its Alcoa Home Exteriors business to Ply Gem
Industries, Inc., a U.S. manufacturer and marketer of a range of
products for use in residential new construction, do-it-yourself and the
professional renovation market, for more than $300 million in cash. The
transaction is expected to be completed in the fourth quarter of 2006.
Alcoa Home Exteriors manufactures and markets premium products for the
residential construction and remodeling markets in the U.S. Alcoa
announced in April its plan to divest the Alcoa Home Exteriors business
because it no longer fit with its core global building and construction
business portfolio.
Alcoa Home Exteriors has 1,400 employees, revenues of approximately $600
million in 2005, and offers a portfolio of more than 14,000 products.
Alcoa Home Exteriors' manufacturing facilities are located in Atlanta,
Ga.; Denison, Texas; Gaffney, S.C.; Sidney, Ohio; and Stuarts Draft,
Virginia.
Ply Gem Industries, headquartered in Kearney, Missouri, is majority
owned by private investment firm Caxton-Iseman Capital, Inc. Its
principal products include vinyl siding, windows, patio doors, fencing,
railing, decking and accessories and aluminum window and siding products
marketed under the Variform, MW, Patriot, Alenco, Great Lakes, Napco,
Kroy and CWD brand names.
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 closures, fastening
systems, precision castings, and electrical distribution systems for
cars and trucks. The company has 129,000 employees in 44 countries and
has been named one of the top most sustainable corporations in the world
at the World Economic Forum in Davos, Switzerland. More information can
be found at www.alcoa.com
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