Alcoa Announces Acquisition of Traco
June 28, 2010
Alcoa, parent company of Kawneer, announced it has agreed to purchase
privately held Traco, a manufacturer of doors and windows for the
commercial building and construction market based in Cranberry Township,
Pa. As part of the acquisition, Traco will become part of Alcoa's
global Building and Construction Systems business. Terms were not
disclosed. The transaction is expected to be completed by the end
of the third quarter 2010, subject to customary regulatory reviews.
"Traco's strong brand and product lines are well known throughout
the commercial building market and we look forward to helping the
brand continue to flourish," said Glen Morrison, president
of Alcoa Building and Construction Systems, who will oversee the
business. "The Traco portfolio of products and commitment to
quality and customer service dovetails with Alcoa's focus on customers.
Through this combination, we see many opportunities to grow our
collective business through better service, more comprehensive product
offerings and greater efficiency."
Kevin Lowery, director of corporate communicates for Alcoa, told
USGNN.com, "The Traco name/brand are strong in the commercial
building and construction industry and is one we've known for some
time and has a complimentary product portfolio [to Alcoa's]. So
when the opportunity came to us
we definitely said 'let's
talk about this' and we were fortunately able to come to an agreement
to buy the business."
According to Lowery, the companies do not foresee any major changes
for customers as a result of the acquisition.
"Our plan is to find the best way to integrate the two businesses.
When you buy a business like this the goal is not go and change
everything [about it]
We're tapping into the strengths of
both companies to help each other grow. This really is a growth
story for everybody and our goal is to help our customers grow,"
said Lowery, who adds that operations will continue in Cranberry
"Our intent is to grow that business as well as our existing
Alcoa construction business," said Lowery. "We see lots
of opportunity [for growth]." In addition, he adds that Traco
management/employees will become a part of Alcoa.
"There's a reason we're buying this company; it's a good business
and that involves having good employees," Lowery said.
Morrison added, "We are excited about the growth potential
presented by this transaction and looking forward to deploying strategies
to realize these opportunities once it is completed."
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