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

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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