 |
 |
||||||
[November 2003]
Alcoa to Sell Specialty Chemicals Business
Alcoa Inc (Pittsburgh, PA, USA) announced on 6 November that Alcoa World Alumina & Chemicals (AWAC) has agreed to sell Alcoa Specialty Chemicals to Rhone Capital LLC as part of the divestiture programme announced in January.
Alcoa Specialty Chemicals has annual revenues of approximately US$360 million and employs 811 people. ASC' global platform consists of 11 operating facilities in six countries. In addition to facilities in North America, Europe, Japan and an equity stake in Australia, ASC operates production and processing centres in the growth markets of China and India. Its product are sold into a wide range of well established end markets including steel production, cement production, ceramics, non-ferrous metals and others.
Terms of the sale have not been disclosed. Alcoa says it will continue to supply alumina feedstock to Rhone. The parties expect to close the transaction within two months. UBS Investment Bank is acting as exclusive financial advisor to Alcoa in connection with this transaction.
ENDS