Sale of Castings Business of Alcoa Completed
Alcoa has completed the sale of its automotive castings business to Compass Automotive Group, LLC, a portfolio company of Monomoy Capital Partners.
Alcoa in the last year had revenues of approximately $ 150 million, employs approximately 530 and has two operating locations: Fruitport, MI (the Michigan Casting Center); and Farsund, Norway (the Scandinavian Casting Center). Alcoa will continue to operate its other automotive businesses globally, including its facility in Soest, Germany.
Alcoa is the world's leading producer and manager of primary aluminum, fabricated aluminum and alumina facilities, and is active in all major aspects of the industry. Alcoa serves the various sectors viz auto, aerospace, building and construction, commercial transportation and industrial markets, bringing design & engineering.
Alcoa also markets Alcoa® wheels, fastening systems, and precision castings & it employs 1.16 lakh workers around the globe & its operations are located in 44 countries worldwide, TheWorld Economic Forum in Switzerland has rated the company as one of the top most sustainable corporation in the world.
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