Alcoa Offers to Buy $11 Million Stake in Russian Facility
Alcoa has announced that it has offered to purchase the remaining 18 per cent of the Belaya Kalitva (BKMPO) fabricated aluminium plant in Russia still held by shareholders following its acquisition from Rusal in January 2005.
ZAO Prime Alum, an Alcoa subsidiary, will offer shareholders 7.50 rubles (approximately 26 cents) a share to tender their shares between 12 September and 12 October 2005. There are approximately 43 million shares of BKMPO held by minority shareholders. Alcoa holds an 82 per cent supermajority position in the facility. Alcoa purchased the plant, along with the Samara fabricating facility, to support its growth plans in the commercial transportation, aerospace, automotive and packaging markets to better serve customers not throughout Europe, Asia and the Americas – producing forged aluminium car wheels, for example.
Prime-Alum does not intend to make any additional offers for shares from minority shareholders after the conclusion of the Tender Offer. Shareholders seeking additional information may contact Alcoa’s agents for this offer.
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