Alcoa (NYSE AA) announced today that it has reached an agreement to sell assets associated with Alcoa’s Rockdale, Texas site to the Lower Colorado River Authority (LCRA). Terms of the deal were not disclosed.
The agreement includes approximately 34,000 acres of property, all surface and groundwater rights, certain common plant and equipment assets, and Alcoa’s power contracts with Luminant.
Alcoa will retain ownership of its smelter and aluminum powder operations.
Subject to necessary approvals, consents and due diligence, the transaction is expected to close by early next year, but can be extended if required to complete due diligence.
Alcoa temporarily curtailed smelting operations at Rockdale in 2008, and permanently closed two of six lines in January, 2012. The site currently employs about 70 people mainly associated with the aluminum powder operations.
About Alcoa
Alcoa is the world’s leading producer of primary aluminum, fabricated aluminum and alumina. In addition to inventing the modern-day aluminum industry, Alcoa innovation has been behind major milestones in the aerospace, automotive, packaging, building and construction, commercial transportation, consumer electronics and industrial markets over the past 120 years. Among the solutions Alcoa markets are flat-rolled products, hard alloy extrusions, and forgings, as well as Alcoa? wheels, fastening systems, precision and investment castings, and building systems in addition to its expertise in other light metals such as titanium and nickel-based super alloys. Sustainability is an integral part of Alcoa’s operating practices and the product design and engineering it provides to customers. Alcoa has been a member of the Dow Jones Sustainability Index for ten consecutive years and approximately 75 percent of all of the aluminum ever produced since 1888 is still in active use today. Alcoa employs approximately 61,000 people in 31 countries across the world.
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