Alcoa Enters into Binding Agreement to Acquire Alumina Limited

Details

The transaction, expected to close in the third quarter of 2024, is subject to various conditions including shareholder approval and regulatory clearances. Alumina shareholders will receive 0.02854 Alcoa shares for each Alumina share, and two new Australian directors will join Alcoa's board. Alcoa has also agreed to provide short-term liquidity support to Alumina Limited if required.

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About Alcoa Corporation

Alcoa Corporation is a premier global producer of aluminum, a key metal used extensively across various industries such as automotive, aerospace, construction, and packaging. Alcoa’s operations encompass the production of bauxite, mining, refining alumina, and the smelting and processing of aluminum products. Headquartered in Pittsburgh, Pennsylvania, Alcoa is known for its comprehensive supply chain management within the industry, contributing to its efficiency and competitive edge. The company holds a significant role in advancing sustainable practices in metal production, targeting reduced carbon emissions and increased recycling efforts. Innovations by Alcoa in aluminum solutions have made it pivotal in lightweighting applications, particularly in automotive and aerospace sectors, where reducing weight enhances fuel efficiency and performance. As one of the world's largest and most recognized aluminum companies, Alcoa Corporation contributes to global manufacturing capabilities, making it an integral player in both the primary and fabricated aluminum markets.