Alcoa expects to complete the sale of its packaging and consumer business later this year or in early 2008.
The US-based aluminium group said yesterday (4 October) that it had received "strong indications from strategic buyers" interested in the business and planned to proceed with the sale.
Alcoa has three packaging sites in the UK - at Amersham, West Bromwich and Sedgefield.
Alcoa expects to report £295m ($600m) in after-tax restructuring and impairment charges in the third quarter of 2007 for the planned sale of the packaging and consumer business.
In April, the company announced a strategic review of its flexible and consumer products division, as well as its Closure Systems International and Reynolds Food Packaging businesses.
The four operations employ around 10,000 people in 22 countries, and generated sales of £1.6bn ($3.2bn) and after-tax operating profits of £47.5m in 2006.
Reynolds has operations in the US, Canada, Mexico and Spain.
Source: packagingnews
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