Alcoa hives off packaging and consumer businesses to Rank Group Ltd.

03-Mar-08
Alcoa's packaging and consumer businesses have been acquired by New Zealand's Rank Group Ltd. Businesses included in the sale are: " Closure Systems International; " Consumer Products, including Reynolds Wrap branded products; " Flexible Packaging; and " Reynolds Food Packaging. Alcoa's packaging and consumer businesses contributed approximately 11% of Alcoa 2007 revenues and 4.6% of 2007 after-tax operating income. In all, these packaging businesses have approximately 9,300 employees in 22 countries around the world.
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