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Alcoa and BHP Billiton Complete Merger of North American Metals Distribution Businesses
PITTSBURGH and MELBOURNE, AUSTRALIA--November 1, 2001--
Alcoa Inc. and BHP Billiton today announced that they have completed the
merger of Alcoa's metals distribution business, Reynolds Aluminum Supply
Company (RASCO), and BHP Billiton Group's North American metals
distribution business, Vincent Metal Goods in the U.S. and Atlas Ideal
Metals in Canada.
As a result of the merger, a new, independently managed company has
been formed -- Integris Metals (pronounced "in-TEG-ris"). Alcoa and BHP
Billiton each own 50 percent. The new combined company will have
approximately 3,000 employees at more than 60 locations in 32 states and
throughout Canada. Revenues for Integris Metals are projected to exceed
$2 billion annually based on 2001 year-to-date results.
"Although our name is new, Integris Metals is built on a solid
foundation of shared values and proud traditions from each of our former
companies," said Harry Jones, president and CEO of Integris Metals. "We
will continue to build on those legacies as we look forward with great
Integris Metals will serve more than 35,000 customers in markets such
as transportation, general manufacturing, machinery and equipment, and
building and construction. The company provides aluminum, stainless
steel, carbon steel, copper, brass and nickel alloys in a variety of
forms such as sheet, plate, bar, shapes, tube and pipe. Integris Metals
also offers a full range of processing services including cut-to-length
leveling, precision blanking, high-definition plasma cutting, slitting,
polishing and heat treating.
"The formation of Integris Metals creates a stronger company with
greater product and service offerings and extended geographic coverage
with more locations," said Mr. Jones. "We intend to create value by
finding opportunities to leverage our strengths and gain synergies while
integrating our operations in a seamless transition."
Senior officers of the new company will be located at a corporate
center in Minneapolis, Minn.