NEW YORK (AP) -- Aluminum producer Alcoa Inc. said on Thursday that it will buy out a partner's stake in technology used for an experimental method for making aluminum. Terms were not disclosed.
Alcoa said the deal with Norway's Orkla ASA would give it full ownership of the technology involved in a process called carbothermic aluminum production. Alcoa said the process, which is in the research and development phase, could allow for aluminum production with less energy and lower emissions, resulting in lower costs. The company said it would allow for smaller smelting sites, making it easier to find locations for new facilities.
Alcoa said it would keep researching the process, moving the research facility from Kristiansand, Norway to an Alcoa operation in Lista, Norway. Some research workers will transfer to Alcoa.
Alcoa said the deal with Norway's Orkla ASA would give it full ownership of the technology involved in a process called carbothermic aluminum production. Alcoa said the process, which is in the research and development phase, could allow for aluminum production with less energy and lower emissions, resulting in lower costs. The company said it would allow for smaller smelting sites, making it easier to find locations for new facilities.
Alcoa said it would keep researching the process, moving the research facility from Kristiansand, Norway to an Alcoa operation in Lista, Norway. Some research workers will transfer to Alcoa.