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Alcoa Comments on Report of Aluminum Smelting Technology Advances
PITTSBURGH--June 22, 2000--
Alcoa Inc. announced that it has learned of a CSFB report, issued today
and authored by Tom VanLeeuwen, which discusses new technology in the
aluminum smelting process.
Given the uncertainty and risk involved in any new technology, it has
been Alcoa's policy not to comment on pre-commercial developments until
trials are completed.
But, in light of this report, Alcoa confirmed that it has been working
on new developments in inert anode technology and that the United States
Patent and Trade Office has granted the company patents related to these
advanced smelting process technologies.
Assuming the technology proves to be commercially feasible, the company
believes that it will be able to convert its existing potlines to this
new technology, resulting in significant operating cost and capital
investment savings. The new technology will also generate substantial
environmental benefits in the form of reduction and elimination of
Alcoa confirmed that the inert anode technology is currently being
evaluated in commercial cell trials at an Alcoa plant, and the trials
are producing encouraging results.
Testing is continuing and no timetable has been established for
commercial use. Alcoa is the world's leading producer of primary
aluminum, fabricated aluminum and alumina. It is active in all major
segments of the industry: mining, refining, smelting, fabricating and
recycling. Alcoa has over 300 operating locations in 36 countries.
Revenues for 1999 were $16.3 billion.
Some of the statements included in this news release may be
forward-looking. Actual results may differ materially from those
projected. Factors such as changes in economic conditions in the
markets we serve, or others discussed in our latest quarterly and annual
reports filed with the Securities and Exchange Commission, could cause
actual results to differ materially from those expressed.
Bonita A. Cersosimo
412 553 4462
Charles D. McLane
Randall J. Killeen
412 553 2231