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Alcoa To Sell Two DivisionsThe aluminum maker Alcoa said yesterday that it was close to selling its packaging and consumer business and its automotive castings business. It also said it planned to revamp its electrical and electronic solutions business in the Americas and Europe, and expected to record $845 million in reorganization and impairment charges in the third quarter. These actions, combined with the recent sale of Alcoa’s stake in the Chinese aluminum maker Chalco for $1.8 billion, will allow Alcoa to focus on its core business of mining bauxite and producing alumina, which in turn is manufactured into aluminum, the company, based in Pittsburgh, said. The company said that it had decided to sell its packaging and consumer business, which includes products like kitchen foil and wraps, and that it would sell its automotive castings business by the end of this year. Tag CloudExternal InformationAdditional InformationOil-Rich Nations Use More Energy, Cutting Exports...American Home Mortgage Seeks Chapter 11 Bankruptcy Protection... DataBank: Earnings Led Rally Despite Write-Downs... Branson calls for hydrogen filling stations... Where Am I?News Main Page - Business - Alcoa To Sell Two Divisions |
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