Alcoa (NYSE:AA) announced today it has agreed to purchase privately held Traco, a premier maker of windows and doors for the commercial building and construction market. Traco will become part of Alcoa’s global Building and Construction Systems business. Terms were not disclosed.
“Traco’s strong brand and product lines are well known throughout the commercial building market and we look forward to helping the brand continue to flourish,” said Glen Morrison, President of Alcoa Building and Construction Systems, who will oversee the business. “The Traco portfolio of products and commitment to quality and customer service dovetails with Alcoa’s focus on customers. Through this combination, we see many opportunities to grow our collective business through better service, more comprehensive product offerings and greater efficiency.
“We are excited about the growth potential presented by this transaction and looking forward to deploying strategies to realize these opportunities once it is completed.”
Traco, founded in 1943 as the Three Rivers Aluminum Company, offers a full range of window and door manufacturing and services, including engineering, extrusion, finishing and electrostatic painting, glass insulation and tempering, and glass lamination.
The company employs 650 people at its one-million-square-foot headquarters and manufacturing operation in Cranberry, PA, north of Pittsburgh. Over its history, Traco has taken a leading role in major projects, including the Statue of Liberty restoration. Traco replaced the 25 windows in the Statue of Liberty’s crown.
When the sale is completed, Traco will become part of Alcoa Building and Construction Systems (BCS), a global provider of architectural systems, services and building products to the construction market, serving customers throughout North America, Europe, North Africa, Asia and the Middle East. Alcoa Building and Construction Systems includes the Kawneer brand of architectural aluminum systems, and Alcoa Architectural Products. Kawneer designs, develops and sells windows, doors, curtain walls, sliding patio doors and conservatories throughout the world. Alcoa Architectural Products sells the Reynobond® aluminum composite material and Reynolux® brand of coil coated aluminum sheet. Alcoa Building and Construction Systems has 26 operating locations in nine countries.
The transaction is expected to be completed by the end of the third quarter 2010, subject to customary regulatory reviews.