Alcoa announced it has reached agreement to acquire the minority interests in its Intalco and Eastalco aluminum smelters in Ferndale, Wash., and Frederick, Md.
Affiliates of both Mitsui & Co. Ltd. and YKK Corporation will sell their combined 39 percent stake in the two smelters, which will result in Alcoa having sole ownership of the two facilities. The transaction should be complete this month.
The Intalco smelter is a 278,000 metric ton per year facility and operates at about one-third its capacity.
The 195,000 metric ton per year Eastalco smelter was temporarily idled this past December because it could not secure a competitively priced long-term power arrangement.
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