Despite sale, packaging firm continues to maintain large presence in the Latin American market.
Alcoa has completed the sale of its polyethylene terephthalate packaging business in South America to Amcor PET Packaging for $75 million in cash.
The sale is part of Alcoa's previously announced divestiture program to sell certain non-core businesses. Alcoa will continue to serve customers in the packaging and beverage industry throughout Latin America through its other packaging businesses, including closures. With the completion of the sale, Alcoa has more than 10 facilities in Latin America serving packaging and beverage customers in Brazil, Chile, Peru, Colombia, and Argentina.