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 Township.

"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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