Alcoa agreed to sell its wire harness and electrical distribution business to Platinum Equity, a California-based private equity group. The wire harness and electrical distribution business is the largest part of the Alcoa Electrical and Electronic Solutions business, which the company announced was for sale in January. The sale, which should be completed by the end of the second quarter of 2009, includes operations in 13 countries and involves approximately 17,500 employees. The sale is part of an effort to focus on businesses where Alcoa brings strong technical advantage.
Alcoa World Alumina LLC and Billiton Suriname Holdings B.V. have reached an agreement where Suriname Aluminum Company (Suralco), an Alcoa subsidiary, will acquire the bauxite and alumina refining interests of N.V. Billiton Maatschapij Suriname (BMS), a BHP Billiton subsidiary. Suralco (55% interest) and BMS (45% interest) have been participants in mining and refining joint ventures in Suriname since 1984. Suralco is a part of Alcoa World Alumina and Chemicals, a joint venture between Alcoa (60%) and Alumina Limited.
Alcoa Sells Wire Harness, Electrical Distribution Business
May 1, 2009