Alcoa Inc announced today that Alcoa World Alumina & Chemicals (AWAC), a global alliance between Alumina Limited and Alcoa, has agreed to sell Alcoa Specialty Chemicals to Rhone Capital LLC. The sale is part of the divestiture program announced by Alcoa in January.
Alcoa Specialty Chemicals (ASC) has annual revenues of approximately $360 million and employs 811 people at eleven operating facilities in six countries around the world.
In addition to facilities in North America, Europe, Japan, and an equity stake in Australia, ASC operates production and processing centres in the growth markets of China and India.
The companies expect to close the transaction within two months. Terms of the sale have not been disclosed.