Alcoa to Sell Specialty Chemicals Business
November 11, 2003
Alcoa Inc. recently announced that Alcoa World Alumina & Chemicals (AWAC), a global alliance between Alumina Limited (40%) and Alcoa (60%), has agreed to sell Alcoa Specialty Chemicals (ASC) to Rhone Capital LLC. This sale is part of the divestiture program announced by Alcoa in January. Alcoa Specialty Chemicals has annual revenues of approximately $360 million, and employs 811 people. Its global platform consists of 11 operating facilities in six countries around the world. Terms of the sale were not disclosed. Alcoa will continue to supply alumina feedstock to Rhone, and 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.
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