Alcoa in $2.7B deal to sell packaging businesses

Dec 26, 2007 | 02:38 PM | Matthew Lerner

Alcoa Inc. said late Friday it has agreed to sell its packaging and consumer businesses to Rank Group Ltd., Auckland, New Zealand, for $2.7 billion in cash.

The transaction is expected to be completed by the end of the first quarter of 2008.

The big aluminum producer's packaging and consumer businesses generated approximately $3.2 billion in revenue and $95 million in after-tax operating income in 2006, representing approximately 10 percent of Pittsburgh-based Alcoa's 2006 revenue and some 3 percent of after-tax operating income, the company said.

In total, the businesses employ about 10,000 people in 22 countries.....

Latest Pricing Trends


Are you stocking more inventory today than 18 months ago?


View previous results