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Alcoa's purchase of Firth praised
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Alcoa, a Pittsburgh-headquartered company, is known for its work with aluminum.
A pending business transaction will weld Firth Rixson, a Liberty County aerospace manufacturer headquartered in Sheffield, United Kingdom, and Alcoa, a Pittsburgh-headquartered aluminum industry pioneer. Alcoa announced the acquisition in June, citing a strategic alignment that will position the company for additional aerospace growth with a broader range of high-growth, value-add jet-engine components. According to the announcement, Alcoa will purchase Firth Rixson’s 13 operating facilities for $2.85 billion in cash and stock from private-equity firm Oak Hill Capital Partners.
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