Packaging and consumer businesses sold
Alcoa has agreed to sell its packaging and consumer businesses to New Zealand’s Rank Group Limited for $2.7 billion. The transaction is expected to be completed by the end of the first quarter 2008.
Alcoa’s packaging and consumer businesses generated approximately $3.2 billion in revenues and $95 million in after-tax operating income in 2006.
Businesses included in the sale are: Closure Systems International; Consumer Products; Flexible Packaging and Reynolds Food Packaging.
In total, these packaging businesses have approximately 10,000 employees in 22 countries around the world. Alcoa will continue to operate its flat-rolled can sheet products serving the packaging market.
More information can be found at www.alcoa.com.
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