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| February 20, 2003
Alcoa Increases Investment in Packaging; Alcoa Closure Systems International Expansion Supports Global Packaging Profitable Growth Strategy
PITTSBURGH--(BUSINESS WIRE)--Feb. 20, 2003--Alcoa (NYSE:AA) today
announced plans to expand its plastic closure (bottle cap and lid)
manufacturing capacity in North America and China.
The capacity expansion will support numerous high-growth market
segments, ranging from closures for bottled water to adult beverages.
The combined capacity investment will total more than $20 million,
with almost all of the expansion already under contract with major
customers.
"This capital investment will allow our closure systems business
to continue to be one of the company's high-growth sectors," said
Sandra Beach Lin, president of Alcoa Closure Systems Inc., (Alcoa
CSI). "Our focus on customers and implementation of the Alcoa Business
System (ABS) have helped us achieve strong growth. When combined with
a stream of innovative new products in the dairy, food and bottled
water markets, this capacity expansion should position us for
continued profitable growth."
Over the past two years, Alcoa CSI has increased its presence in
Nepal, Costa Rica, Mexico, Korea, the Philippines, China and Japan.
Alcoa CSI currently operates 22 plants in 15 countries.
Alcoa is the world's leading producer of primary aluminum,
fabricated aluminum and alumina, 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 as a single solution to customers.
In addition to aluminum products and components, Alcoa also markets
consumer brands including Reynolds Wrap(R) aluminum foil, Alcoa(R)
wheels, and Baco(R) household wraps. Among its other businesses are
vinyl siding, closures, precision castings, and electrical
distribution systems for cars and trucks. The company has 127,000
employees in 39 countries. For more information go to www.alcoa.com.
Forward Looking Statement
Certain statements in this release relate to future events and
expectations and as such constitute forward-looking statements
involving known and unknown risks and uncertainties that may cause
actual results, performance or achievements of Alcoa to be different
from those expressed or implied in the forward-looking statements.
Important factors that could cause actual results to differ materially
from those in the forward-looking statements include the company's
inability to achieve profitable growth targets or productivity
improvements anticipated by management, including possible increases
in the cost of doing business resulting from war or terrorist
activities; and other risk factors summarized in Alcoa's SEC reports.
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