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Alcoa Acquires REDD Team Mfg., Inc. Chicago, IL--November 30, 2001--
Alcoa announced today that it has acquired REDD Team Mfg., Inc., a
privately held company based in Florida. REDD Team Mfg. will become part
of Alcoa Engineered Products (AEP). AEP is the Alcoa business that
produces aluminum extrusions and fabricated aluminum products. Terms of
the deal were not disclosed.
REDD Team Mfg. is a fast growing, highly specialized manufacturer of
durable extruded aluminum products for institutional, commercial,
residential, military and municipal markets. It manufactures ramps and
stair systems; gangways and floating docks; and pedestrian bridges.
REDD team offers a complete line of accessibility products that conform
to the Americans with Disabilities Act guidelines.
"The acquisition of REDD Team Mfg. adds specialized manufacturing
capabilities and access to growing markets for Alcoa AEP. It is an
excellent fit with our overall strategy of offering customers greater
value by expanding the application of aluminum products" said Barry
Owens, president of Alcoa Distribution & Industrial Products. "This
acquisition brings together two companies whose products and markets are
perfectly complementary. By adding the new manufacturing capabilities
and new markets of REDD Team Mfg., we are strengthening our reputation
as a leader in solution-based products."
Ken Feeken, President of REDD Team Mfg., added, "Both our customers and
employees will immediately benefit from the global resources and
marketing network of Alcoa. We look forward to working with Alcoa to
serve new markets and to provide expanded opportunities for our
Alcoa Engineered Products includes 27 manufacturing locations and 25
service centers. The manufacturing network will be further extended by
the addition of REDD Team Mfg.’s 100 employees located in Keystone
Heights, Florida. The combined business will employ more than 8,600.
Alcoa is the world’s leading producer of primary aluminum, fabricated
aluminum, and alumina. It is active in all segments of the industry:
technology, mining, refining, smelting, fabricating and recycling.
For additional information, please contact:
Thomas P. Hennessy
Vice President of Marketing and Business Development
1907 Industrial Park Drive
Plant City Florida 33567