April 26, 2007 |
Alcoa Inc. said Wednesday that it might sell three of its businesses including its packaging unit, which makes Reynolds Wrap. The world's largest aluminum company said the strategic alternatives review would include sale or possible joint ventures for the packaging, electrical and automotive castings businesses. The units contributed about 16%, or $4.8 billion, of the company's revenue in 2006. The sale of the businesses could reduce Alcoa's workforce of 122,000 by more than a third.