Wise Alloys Sold to Private Company

Wise Alloys, the third largest manufacturer of aluminum sheet for the beverage can industry, has been sold.

The facility, located in Muscle Shoals, Ala., was sold at the end of last month to David D’Addario, the president and CEO of a privately owned company with interests in a wide range of businesses, including real estate, road construction, trucking and petroleum.

D’Addario called Wise Alloys a “a state-of-the-art company that is increasingly competitive. We have new leadership and plans for growth, improved productivity and strategic expansion into logical markets. The skill level and quality of our employees is very high and I’m confident that working together, Wise will become an even more dynamic company.”

Wise Alloys LLC consumes a significant amount of recycled aluminum to produce its finished product.

The 2,000-acre facility was founded in 1941 to manufacture aluminum sheet for airplanes. The plant, originally owned by Reynolds Aluminum, was sold to Wise Alloys in March 1999. D’Addario had been a minority owner of Wise since 1999, but recently purchased a majority ownership and controlling interest in the firm. Other partners include John Cameron, Wise Alloy’s president and CEO, and other members of the company’s management team.