Reynolds Metals Company
| Reynolds Metals Company | |
|---|---|
| legal form | Company |
| founding | 1919 |
| resolution | 2000 |
| Reason for dissolution | Takeover by Alcoa |
| Seat |
Richmond, Virginia , United States
|
| Number of employees | 29,000 |
| Branch | aluminum |
The Reynolds Metals Company , also Reynolds Aluminum , was an American aluminum manufacturer . The company was founded in 1919 by Richard S. Reynolds, Sr. as the US Foil Company . Initially, lead and tin foil for cigarette and candy packaging ( silver paper ) were produced. In 1926 the production of aluminum foil began . In 1940 bauxite mining began in Arkansas and the first aluminum smelter was built near Sheffield (Alabama) . During the Second World War, aluminum production increased significantly. In 1947 Reynolds Wrap , a household aluminum foil known in the USA, was introduced.
In 1975 the Reynolds Aluminum holdings in Guyana were nationalized. In 1980, 51% of the shares in the aluminum mines in Jamaica were sold to the local government. In 1983, William Bourke became CEO of Reynolds. He diversified the company and by 1988 laid off a third of all employees. In 2000, Reynolds was taken over by its competitor Alcoa .
At the time, Reynolds Alumnium was the second largest aluminum producer in the United States and the third largest in the world.
literature
Individual evidence
- ^ Daniel F. Cuff: BUSINESS PEOPLE; Reynolds Metals Shifts Management. NY Times , January 24, 1983, accessed February 11, 2015 .
- ^ Alcoa Completes Merger With Reynolds Metals. Alcoa, May 3, 2000, accessed February 11, 2015 .