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MATTAWAN, Mich. & FRANKLIN, Tenn.--(BUSINESS WIRE)--March 1,
2002--Alcoa (NYSE:AA) and Engineered Plastic Components, Inc. (EPC)
announced today that Alcoa Fujikura Ltd. (AFL), an Alcoa business, has
acquired 100% ownership of EPC.
This acquisition will make EPC the centerpiece of AFL's growing
automotive components business and will provide EPC with the means for
continued growth as an automotive components supplier.
AFL Automotive is one of the top five global suppliers of
electrical distribution systems and components. EPC is a major
supplier of precision molded plastic components and assemblies for use
in electrical systems for the automotive industry as well as selected
products for telecommunications and medical use.
Robert T. Alexander, president of AFL Worldwide Automotive, said,
"EPC is an outstanding organization and an excellent company. This
acquisition provides AFL with the opportunity to consolidate our other
component companies with EPC into a single business unit. Overall,
this supports AFL's strategy of providing higher value to a broader
range of customers with new products integrating more functions and
capability." Ronald A. Molitor, president of EPC, stated, "This
creates a great opportunity for both EPC and AFL to continue our
growth and secure a prosperous future for our companies and
employees."
EPC is an ISO9001, ISO14000, QS9000 and VDA 6.1 registered firm
that produces injection molded plastic components and assemblies for
use in electrical and electronic systems for the automotive industry
and in selected applications for telecommunications and medical
markets. Formed in 1986, EPC's North American facility is located in
Mattawan, MI. In 1995, EPC Europe began operation in Dundalk, Ireland
to better serve its growing European customer base. EPC employs
approximately 800 people worldwide.
Alcoa is the world's leading producer of primary aluminum,
fabricated aluminum, and alumina. Among its related businesses are
precision castings, fiber optic cables, and electrical distribution
systems for cars and trucks. It has 129,000 employees in 38 countries.
AFL is a joint venture between Alcoa Inc. and Fujikura Ltd. of
Japan. Alcoa is the majority owner of AFL. It is a global full service
supplier of electrical/electronic distribution systems and electronic
components in North America and Europe. AFL employs approximately
40,000 people in its worldwide automotive business.
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