Alcoa gains full ownership of beverage recycling firm Evermore Recycling

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Alcoa gains full ownership of beverage recycling firm Evermore Recycling

Greentech Lead America: Alcoa, a producer of primary and
fabricated aluminum, will assume full ownership of the Evermore Recycling, a
joint venture with Novelis.  Alcoa and Novelis previously were
partners in the joint venture which purchases more recycled cans than any other
group, anywhere in the world. The agreement will effective on August 31, 2012.

Alcoa will take over full ownership and operation of
Evermore Recycling and make it part of Alcoa’s Global Packaging group. Alcoa’s
Evermore Recycling will continue to be based in Nashville, TN.

“Alcoa’s Evermore Recycling is known throughout the world
for its strong and committed relationships across the recycling supply chain
and for its ability of making it easy to work together effectively. When the
opportunity first presented itself, we immediately said we wanted Evermore. We
are confident the strong relationships we have in the scrap market will grow
even stronger as we take over full control of the company,” said Andrey Donets,
president of Alcoa Global Packaging.

The aluminum can is the most sustainable package in the
world and is easily the most recycled container across the globe. Aluminum cans
are recycled into new cans in less than 60 days and require 95 percent less
energy than cans using primary metal – a cycle can be repeated infinitely.

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