Alcoa to shut one, sell two soft-alloy extrusion plants to Golden Aluminum

29 August 2007

Alcoa will sell its two remaining US soft-alloy extrusion facilities in Warren, Ohio and Plant City, Florida to Golden Aluminum for an undisclosed amount.

The plants in Warren and Plant City extrude aluminium into products used in the building and construction and commercial transportation markets. The plants employ approximately 130 and 200 people, respectively.

The transaction is expected to be completed by the end of September.

Alcoa also announced that it would close its Tifton, Georgia soft-alloy extrusion facility by the end of October, 2007. The company was not able to secure a suitable buyer for the plant, which employs approximately 200 people.

Impacted salaried employees will be offered severance and work assistance programmes. Severance arrangements for bargaining unit employees will be subject to discussion with union officials, Alcoa said.

Earlier this year Alcoa contributed nearly all of its soft-alloy extrusion business into a joint venture, formed in June 2007, with Sapa Group, that was.