Friday, June 4, 2010

Alcoa (NYSE:AA) Expands Aluminum Can Recycling Efforts

Alcoa (NYSE:AA) has committed $24 million to expand its capacity to recycle aluminum cans at its Tennessee facility. After the expansion, the company estimates it will increase its recycling capability by almost 50 percent.

“Today, we are celebrating the successful completion of our expansion and another milestone in our drive to help increase recycling rates across North America. This investment is an example of our commitment to increasing recycling as well as to helping secure jobs here in the Tennessee community,” said Klaus Kleinfeld, president and CEO of Alcoa.

In 2009 Alcoa said they have a goal of increasing recycling rates in North America to 75 percent, up from the current 54 percent of all beverage cans being recycled produced in North America.

Interestingly, Alcoa has been reducing their production of original beverage cans, which they say they lose money on.

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