Mar 2 2004
Alcoa World Alumina & Chemicals, an alliance between Alcoa (60%) and Alumina Ltd (40%), have sold Alcoa Specialty Chemicals to two private equity firms for $342 million. The equity firms are Rhone Capital and Teachers’ Merchant Bank.
The business has 11 facilities spread across North America, Europe, Japan and an equity stake in Australia. They also have production and processing centers in China and India.
Under the new ownership, the business will be renamed Almatis and will continue to supply materials into industries including steel, cement, petrochemicals, plastics, automotive, non-ferrous metals, ceramics etc.
The divestiture of the business was in line with Alcoa’s programme announced in 2003.
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