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 Initiates Mandated Offer for Elkem; Pleased with Response to Increased Ownership
PITTSBURGH & OSLO, Norway--(BUSINESS WIRE)--Jan. 23, 2002--Alcoa
announced today that it has initiated a legally mandated,
unconditional cash tender offer for Elkem at 155 Norwegian kroner
($17.32) for each outstanding share. The tender offer will expire on
February 22, 2002. Alcoa currently owns 40% of Elkem's 49,280,000
outstanding shares.
Since crossing the 40% ownership threshold earlier this month,
Alcoa has been in touch with Elkem's management, its union
representatives, and government officials in Norway. "We are pleased
with the response we have received to our increased ownership of
Elkem," said Alain Belda, Chairman and CEO of Alcoa. "We believe the
company is a good value at NOK 155 per share, and expect that the
current management team will continue to deliver profitable growth for
its shareholders."
Elkem, through its 50/50 partnership with Alcoa, is the second
largest producer of aluminum in Norway. Elkem Aluminium has an annual
primary production capacity of 200,000 metric tons. Elkem is also the
world's largest supplier of silicon metal.
Alcoa on Facebook
Alcoa on LinkedIn
Alcoa on Twitter
AlcoaTV on Youtube