BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Alcoa sells packaging/consumer unit to Rank Group for $2.7 billion]]>http://www.bloggingstocks.com/2007/12/26/alcoa-sells-packaging-consumer-unit-to-rank-group-for-2-7-billi/http://www.bloggingstocks.com/2007/12/26/alcoa-sells-packaging-consumer-unit-to-rank-group-for-2-7-billi/http://www.bloggingstocks.com/2007/12/26/alcoa-sells-packaging-consumer-unit-to-rank-group-for-2-7-billi/#commentsFiled under: , ,

Alcoa has agreed to sell its packaging and consumer businesses to New Zealand's Rank Group Limited for $2.7 billion, the company announced Wednesday. Alcoa (NYSE: AA)'s shares gained 37 cents to $37.38 in Wednesday afternoon trading.

Alcoa's packaging / consumer unit generated about $3.2 billion in revenue and $95 million in after-tax operating income in 2006, or about 3% of operating income, the company said.

Alcoa said it's also seeking to sell its Reynolds Wrap, consumer products, flexible packaging, and plastic / aluminum packaging closure units in order to more fully concentrate on its mining / aluminum production business.

Continue reading Alcoa sells packaging/consumer unit to Rank Group for $2.7 billion

Alcoa sells packaging/consumer unit to Rank Group for $2.7 billion originally appeared on BloggingStocks on Wed, 26 Dec 2007 15:52:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>AAAlcoaaluminumcommoditiesinthenewsminingNew ZealandRank GroupWed, 26 Dec 2007 15:52:00 EST