17 AUGUST 2012Miningweekly.com
Alcoa to sell Texas plant assets and land
Edited by : AL CIRCLE
1 min read
Aluminium company Alcoa said on Wednesday it will sell land and other assets at its Rockdale, Texas plant to the Lower Colorado River Authority, a nonprofit public utility and conservation body.
Terms of the deal were not disclosed, but Alcoa said it will retain ownership of its smelter and aluminium powder operations in Rockdale.
The agreement includes about 34 000 acres of property, surface and groundwater rights, common plant and equipment assets, and Alcoa's power contracts with Luminant, the company said.
Alcoa temporarily curtailed smelting operations at Rockdale in 2008, when the recession hit demand for aluminum, and it permanently closed two of the six manufacturing lines in January, 2012. The site currently employs about 70 people.
The Lower Colorado River Authority was created in 1934 by the Texas legislature to protect people, property and the environment by providing public services for more than one-million people in central and southeast Texas.
These services include electricity, water, flood management, public parks and community and economic development services to rural and suburban communities.
Alcoa's stock was 7c higher at $8.75 in afternoon trading on the NYSE.
Terms of the deal were not disclosed, but Alcoa said it will retain ownership of its smelter and aluminium powder operations in Rockdale.
The agreement includes about 34 000 acres of property, surface and groundwater rights, common plant and equipment assets, and Alcoa's power contracts with Luminant, the company said.
Alcoa temporarily curtailed smelting operations at Rockdale in 2008, when the recession hit demand for aluminum, and it permanently closed two of the six manufacturing lines in January, 2012. The site currently employs about 70 people.
The Lower Colorado River Authority was created in 1934 by the Texas legislature to protect people, property and the environment by providing public services for more than one-million people in central and southeast Texas.
These services include electricity, water, flood management, public parks and community and economic development services to rural and suburban communities.
Alcoa's stock was 7c higher at $8.75 in afternoon trading on the NYSE.
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