Alcoa 1997 Annual Report Download - page 8

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NEWS97
6
Alcoa in Spain
After approval by the
European Commission
and the Spanish govern-
ment, Alcoa completed
the acquisition of Spain’s
state-owned aluminum
producer, Inespal. Alcoa
will pay approximately
$410 million for the stock
of substantially all of
Inespal’s businesses,
which include an alumina
refinery, three smelters,
three rolling mills, two
extrusion plants, and an
administrative center in
Madrid. Inespal has annu-
al revenue of approxi-
mately $1.1 billion.
Hide the
Thermometer!
On Russia’s coldest
Dec. 17th in 100 years
(-38 degrees C) the atmo-
sphere was warm and
congenial inside Alcoa
CSI’s newest closure plant
in Lyubachany. Some 200
guests braved the weath-
er to celebrate the plant’s
official opening, including
officials of Coke, Pepsi,
independent bottling
companies, and local
government. The opera-
tion, near Moscow, makes
compression-molded,
tamper-evident plastic
closures for the growing
East European beverage
market. It is CSI’s first
plant in the former
Soviet Union.
–38°c!
Szántó László, computer
control operator,
Székesfehérvár, Hungary
Europe
In the past two years, Alcoa’s European operations have grown
dramatically, with the acquisition of the national aluminum companies
of Italy and Spain and expanded activity in automotive structures,
closure systems, forged wheels, and alumina-based products.