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BUSINESS
April 8, 2010
Alcoa Inc. says it will dismantle the Eastalco Works aluminum smelting complex near Frederick that ceased production in 2005. The Pittsburgh-based company says it has no plans for the 2,000-acre property about five miles south of Frederick. A spokesman says the ground will be tested for hazardous materials and chemicals. More than 600 workers were laid off when Alcoa idled the plant in December 2005, citing high electricity costs. Some local lawmakers have suggested offering the site for a federal diplomatic security training center that has met resistance at a proposed location in Queen Anne's County.
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BUSINESS
April 8, 2010
Alcoa Inc. says it will dismantle the Eastalco Works aluminum smelting complex near Frederick that ceased production in 2005. The Pittsburgh-based company says it has no plans for the 2,000-acre property about five miles south of Frederick. A spokesman says the ground will be tested for hazardous materials and chemicals. More than 600 workers were laid off when Alcoa idled the plant in December 2005, citing high electricity costs. Some local lawmakers have suggested offering the site for a federal diplomatic security training center that has met resistance at a proposed location in Queen Anne's County.
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BUSINESS
By BLOOMBERG NEWS | August 14, 1999
CHICAGO -- Reynolds Metals Co., North America's No. 3 aluminum producer, got an all-cash takeover offer from investment firm Michigan Avenue Partners, rivaling a half-cash, half-stock offer from Alcoa Inc. in an effort to keep Reynolds independent, the investment firm said yesterday.The value of the offer wasn't disclosed, though Chicago-based Michigan Avenue Partners said its offer is higher than Alcoa's, which is equivalent to $65 a share, or $5.6 billion including assumed debt. Reynolds shares rose $3 to $69.375.
BUSINESS
March 8, 2008
Alcoa Inc. Shares fell $1.77 to $36.60. An analyst downgraded the Dow Jones industrial average component and several other metal companies on valuation and a discouraging supply outlook for the second half .
BUSINESS
By Andrew Leckey and Andrew Leckey,Tribune Media Services | May 27, 2007
I'm not sure what to make of Alcoa Inc. Should I keep its shares in my portfolio? - K.G., via the Internet The world's largest aluminum producer is expected to turn in record revenues for the next couple of years. Global demand for aluminum is strong, even though that metal is not in as short supply as some other commodities. The company controls 13 percent of the world's aluminum smelting, used in products that include soda cans, industrial turbines and aerospace components. Alcoa is, for example, one of the largest suppliers to Boeing Co. Shares of Alcoa (AA)
BUSINESS
By BLOOMBERG NEWS | August 12, 1999
PITTSBURGH -- Alcoa Inc. offered to buy Reynolds Metals Co. yesterday for $5.6 billion in cash and stock, a move spurred by rival Alcan Aluminium Ltd.'s effort to supplant Alcoa as the world's biggest aluminum producer."
NEWS
By Susan Baer and Susan Baer,SUN NATIONAL STAFF | December 21, 2000
WASHINGTON - Filling in another top rung of his Cabinet yesterday, President-elect George W. Bush tapped Paul H. O'Neill, chairman of Alcoa Inc., to be Treasury secretary, promoting the former federal budget official as a "steady hand" for an economy heading for a possible slowdown. Bush said O'Neill, who will preside over an economic plan that is built around a $1.3 trillion tax cut, shared his commitment to "fair and responsible tax relief," even though O'Neill embraced a gasoline tax that was opposed by conservatives.
BUSINESS
By NEW YORK TIMES NEWS SERVICE | August 17, 1999
Alcoa Inc., the world's largest aluminum producer, announced a $4.2 billion unsolicited all-cash bid yesterday for the rival Reynolds Metals Co., a day after Reynolds spurned Alcoa's friendly half-cash, half-stock offer.To turn up the pressure, Alcoa also said it would take its hostile bid directly to Reynolds' shareholders and ask them to remove the company's board, which opposed Alcoa's first overture.Alcoa's move comes as consolidation sweeps the global aluminum industry. On Wednesday, a two-continent, three-company deal was announced when Alcan Aluminium of Canada, Pechiney SA of France and Alusuisse Lonza Group AG of Switzerland agreed to a $17.6 billion merger.
BUSINESS
March 8, 2008
Alcoa Inc. Shares fell $1.77 to $36.60. An analyst downgraded the Dow Jones industrial average component and several other metal companies on valuation and a discouraging supply outlook for the second half .
BUSINESS
By Robert Lee | October 14, 1990
Hoping to pressure Maryland Pepsi bottlers to switch from steel to aluminum cans, Alcoa, the world's largest aluminum company, has targeted Baltimore consumers with an aggressive "green marketing" campaign.But Pepsi and steel recyclers suggest that the Alcoa campaign, which presents aluminum as the environmentally sound alternative to steel, is a case of green marketing in a gray area -- like the muddled debate on cloth vs. disposable diapers.Alcoa has kicked off a joint aluminum-recycling venture with the Chesapeake Bay Foundation in which the foundation receives the total resale value of aluminum cans turned in at special receptacles at Anne Arundel County's 121 public schools and at Valu Food's 12 Maryland supermarkets.
BUSINESS
By Andrew Leckey and Andrew Leckey,Tribune Media Services | May 27, 2007
I'm not sure what to make of Alcoa Inc. Should I keep its shares in my portfolio? - K.G., via the Internet The world's largest aluminum producer is expected to turn in record revenues for the next couple of years. Global demand for aluminum is strong, even though that metal is not in as short supply as some other commodities. The company controls 13 percent of the world's aluminum smelting, used in products that include soda cans, industrial turbines and aerospace components. Alcoa is, for example, one of the largest suppliers to Boeing Co. Shares of Alcoa (AA)
BUSINESS
By ALLISON CONNOLLY and ALLISON CONNOLLY,SUN REPORTER | June 28, 2006
FREDERICK -- A state official cast doubt yesterday on a proposal by Alcoa Eastalco Works to share the cost of building a 600-megawatt power plant to generate affordable electricity and revive its Frederick County aluminum smelting plant. The company, which shut down most of the plant in December after failing to reach a deal with Allegheny Energy Inc. on electricity rates, is pitching a public-private partnership to build a natural gas-powered plant at a cost of about $1 billion. It appears to be a last-ditch effort to keep the aluminum plant open, after a private company shelved plans to build a power plant on the property.
NEWS
October 14, 2005
MORE THAN 600 EMPLOYEES AT the Eastalco aluminum smelting plant in Frederick County were given layoff notices yesterday. The plant's owner, Alcoa Inc., says it would like to keep the facility open but can't -- unless the company can find a less-expensive source of electricity. But finding that solution is already generating at least one bad idea from local politicians. The shutdown comes as no surprise. Making aluminum requires a lot of electricity. Currently, Eastalco gets its power from Pennsylvania-based Allegheny Energy, but the discount contract is set to expire at the end of the year.
BUSINESS
July 3, 2005
A weekly briefing on the economic calendar Tuesday May factory orders Earnings reports: ADE Corp. Wednesday Institute for Supply Management June services index Earnings reports: Acuity Brands Inc., Cutter & Buck Inc., Delta & Pine Land Co., Ruby Tuesday Inc. Thursday Weekly initial jobless claims Earnings reports: Accenture Ltd., Alcoa Inc., Laidlaw International Inc. Friday June nonfarm payrolls, unemployment data; May wholesale inventories ...
NEWS
June 21, 2005
Energy policy ruins treasures for private profit Hats off to The Sun for spending the money to send reporter Tom Pelton to the Rockies for a firsthand look at the out-of-control drilling program there ("Drilling ignites battle over Western paradise," June 12) and for writing a clear-eyed editorial on the folly of this 1950s-style energy policy ("Plunderland," June 14). Instead of making tough, forward-looking decisions to address our energy challenges, Washington is handing over some of the most spectacular public lands in the West to the oil and gas industry.
BUSINESS
By Jay Hancock | June 15, 2005
CORPORATE executives always blame economics when threatening to close plants, even if the real reason is management incompetence, greed or an attempt to bluff concessions from workers and tax authorities. But when Alcoa says that the market is "difficult" for its Eastalco aluminum plant in Frederick County and that events outside its control will make the facility unprofitable without assistance from the state, believe it. Economic factors rarely pose a more potent or obvious threat than they do here.
BUSINESS
July 3, 2005
A weekly briefing on the economic calendar Tuesday May factory orders Earnings reports: ADE Corp. Wednesday Institute for Supply Management June services index Earnings reports: Acuity Brands Inc., Cutter & Buck Inc., Delta & Pine Land Co., Ruby Tuesday Inc. Thursday Weekly initial jobless claims Earnings reports: Accenture Ltd., Alcoa Inc., Laidlaw International Inc. Friday June nonfarm payrolls, unemployment data; May wholesale inventories ...
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