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BUSINESS
December 31, 1997 | Bloomberg News
Pittsburgh-based Aluminum Co. of America scrapped plans to acquire an Alabama aluminum rolling mill from Reynolds Metals Co. after the Justice Department sued to block the $250-million sale on antitrust concerns. In a letter to Richmond, Va.-based Reynolds Metals, Alcoa Chairman and Chief Executive Paul O'Neill said the letter of intent the two companies signed in April is "no longer operative."
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BUSINESS
December 31, 1997 | Bloomberg News
Pittsburgh-based Aluminum Co. of America scrapped plans to acquire an Alabama aluminum rolling mill from Reynolds Metals Co. after the Justice Department sued to block the $250-million sale on antitrust concerns. In a letter to Richmond, Va.-based Reynolds Metals, Alcoa Chairman and Chief Executive Paul O'Neill said the letter of intent the two companies signed in April is "no longer operative."
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NEWS
July 4, 1986
The United Steelworkers Union ended a monthlong strike against Aluminum Co. of America, but 8,000 members of the Aluminum, Brick and Glass Workers remained on strike at plants in Iowa, Indiana, Pennsylvania and New York. The settlement also ends a dispute with Reynolds Metals. Leaders of the steel workers voted 15 to 7 to accept an offer by Alcoa and Reynolds of a three-year contract the union and company said freezes wages and cuts benefits by 95 cents an hour.
BUSINESS
October 15, 1991
Nestle USA Inc. in Glendale is negotiating to buy Eskimo Pie Corp. from Reynolds Metals Co., which owns 84% of the ice cream company. Potential terms were not disclosed. Reynolds, the nation's second-largest aluminum concern and the maker of such consumer products as Reynolds Wrap foil, said it wants to sell Eskimo Pie to focus only on aluminum and related businesses. Both Reynolds, which had sales of $6.1 billion last year, and Eskimo Pie are based in Richmond, Va.
BUSINESS
February 20, 1986
The company said that it will permanently close the reduction facilities at its Listerhill, Ala., primary aluminum plant, which were idled totally last year. Provision for the closure was made in the company's write-down of uneconomic facilities taken in 1985's third quarter. The Listerhill plant, with seven lines and a total capacity of 202,000 tons-per-year, employed approximately 1,55 people when the facility was at full production in 1980.
BUSINESS
December 1, 1987 | Associated Press
Reynolds Metals Co. announced Monday that it has signed a $1.1-billion loan agreement designed to refinance two major term loans as part of an ongoing cost-reduction program. The company also said it is calling for redemption on Jan. 4 of all of its outstanding first mortgage bonds. The bonds will be redeemed with general corporate funds.
BUSINESS
October 15, 1991
Nestle USA Inc. in Glendale is negotiating to buy Eskimo Pie Corp. from Reynolds Metals Co., which owns 84% of the ice cream company. Potential terms were not disclosed. Reynolds, the nation's second-largest aluminum concern and the maker of such consumer products as Reynolds Wrap foil, said it wants to sell Eskimo Pie to focus only on aluminum and related businesses. Both Reynolds, which had sales of $6.1 billion last year, and Eskimo Pie are based in Richmond, Va.
CALIFORNIA | LOCAL
March 24, 1988 | United Press International
President Reagan on Monday will travel to Richmond, Va., where he will visit a Reynolds Metals Co. plant and promote his trade policies, White House spokesman Marlin Fitzwater announced Wednesday.
BUSINESS
December 1, 1987 | Associated Press
Reynolds Metals Co. announced Monday that it has signed a $1.1-billion loan agreement designed to refinance two major term loans as part of an ongoing cost-reduction program. The company also said it is calling for redemption on Jan. 4 of all of its outstanding first mortgage bonds. The bonds will be redeemed with general corporate funds.
NEWS
July 4, 1986
The United Steelworkers Union ended a monthlong strike against Aluminum Co. of America, but 8,000 members of the Aluminum, Brick and Glass Workers remained on strike at plants in Iowa, Indiana, Pennsylvania and New York. The settlement also ends a dispute with Reynolds Metals. Leaders of the steel workers voted 15 to 7 to accept an offer by Alcoa and Reynolds of a three-year contract the union and company said freezes wages and cuts benefits by 95 cents an hour.
BUSINESS
February 20, 1986
The company said that it will permanently close the reduction facilities at its Listerhill, Ala., primary aluminum plant, which were idled totally last year. Provision for the closure was made in the company's write-down of uneconomic facilities taken in 1985's third quarter. The Listerhill plant, with seven lines and a total capacity of 202,000 tons-per-year, employed approximately 1,55 people when the facility was at full production in 1980.
BUSINESS
November 26, 1985
A total of 1,400 workers lost their jobs at Jones Mills and Arkadelphia, Ark., when the two primary aluminum production plants there closed in October. The company said it had included costs for closing the plants in a $313.5-million charge that it took against its third-quarter profits.
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