A message from Alcoa’s President and CEO after the Alumina Limited acquisition

Alcoa’s President and CEO speaks about the closed deal, giving the company a leading global position in the pure-play, upstream aluminum industry

On August 1, Alcoa closed the deal to acquire Alumina Limited – an all-stock transaction that cements Alcoa's commitment to Western Australia and the upstream aluminum industry.

Read the full press release explaining the acquisition.

Shortly following the announcement, Alcoa President and CEO William F. Oplinger released a short message to stakeholders – emphasizing the importance of the deal and thanking everyone for their efforts.

You can read Oplinger’s full remarks below:

"Hello, today is an important day for the future of Alcoa. Earlier, we completed our acquisition of Alumina Limited – the most important strategic investment we've made since 2016.

This acquisition ends the joint venture, converting 100 percent of the assets to Alcoa. These assets will give us a leading global position in the pure play, upstream aluminum industry. So, this is a very exciting day.

You've heard me talk a lot about building a performance culture and advancing our competitiveness. This deal is the embodiment of that.

We're eliminating corporate costs and expect to see $12 million in improvements nearly immediately. Big as that is, the more important change will be in the way we work with this acquisition.

We will have a clear corporate structure to accelerate our strategic decision making in bauxite and alumina. That means we're more in control of our success. There are fewer impediments, and that's a big part of advancing competitiveness.

Many people have worked tirelessly on this transaction since we announced it in February. It was a lot of work, and our teams were able to move it forward to completion quickly. I'm proud of their effort, and I want to thank them all.

I also want to recognize the Alumina team. They've been extremely professional throughout. We thank them and wish them well in their future endeavors.

The future months and years will be exciting as we work together to take Alcoa to the next level. On behalf of the entire executive team, I'd like to thank you for the hard work and safety focus as we strive to become the world's premier aluminum company."

Watch the full video of Oplinger’s remarks below – or on our YouTube channel.

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