Alcoa Takes Full Ownership of Evermore Recycling, The World Leader in Beverage Can Recycling
Alcoa (NYSE:AA) ?today announced it has reached an agreement with Novelis
whereby Alcoa will assume full control of the Evermore Recycling joint
venture, the undisputed leader in used beverage can (UBC) recycling,
effective August 31, 2012. The two companies previously were partners in
the joint venture which purchases more recycled cans than any other
group, anywhere in the world.
As a result of the new agreement, Alcoa will take over full ownership
and operation of Evermore Recycling and make it part of Alcoa′s Global
Packaging group. Alcoa′s Evermore Recycling will continue to be based in
Nashville, TN. Employees of the joint venture are being given
opportunities to join the respective companies.
'Alcoa′s Evermore Recycling is known throughout the world for its strong
and committed relationships across the recycling supply chain and for
its ability of making it easy to work together effectively,? said Andrey
Donets, President of Alcoa Global Packaging. 'When the opportunity first
presented itself, we immediately said we wanted Evermore. We are
confident the strong relationships we have in the scrap market will grow
even stronger as we take over full control of the company.
'We′ve been a leader and pioneer in recycling since the aluminum can was
invented and we see great opportunities in this new chapter to deepen
our rich heritage in recycling,? added Donets.
The aluminum can is the most sustainable package in the world and is
easily the most recycled container across the globe. Aluminum cans are
recycled into new cans in less than 60 days and require 95 percent less
energy than cans using primary metal ? a cycle can be repeated
infinitely. Approximately 75 percent of all the aluminum ever produced
since 1888 is still in use today.
About Alcoa
Alcoa is the world′s leading producer of primary and fabricated
aluminum, as well as the world′s largest miner of bauxite and refiner of
alumina. In addition to inventing the modern-day aluminum industry,
Alcoa innovation has been behind major milestones in the aerospace,
automotive, packaging, building and construction, commercial
transportation, consumer electronics and industrial markets over the
past 120 years. Among the solutions Alcoa markets are flat-rolled
products, hard alloy extrusions, and forgings, as well as Alcoa ? wheels,
fastening systems, precision and investment castings, and building
systems in addition to its expertise in other light metals such as
titanium and nickel-based super alloys. Sustainability is an integral
part of Alcoa′s operating practices and the product design and
engineering it provides to customers. Alcoa has been a member of the Dow
Jones Sustainability Index for 10 consecutive years and approximately 75
percent of all of the aluminum ever produced since 1888 is still in
active use today. Alcoa employs approximately 61,000 people in 31
countries across the world. More information can be found at www.alcoa.com.
Alcoa Inc.
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