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Alcoa Completes Sale Of Land In State Of Maryland

Alcoa Corp. (AA) said that it has completed a sale of land in the state of Maryland for $100 million in cash. It expects to record a gain of about $90 million in the second quarter of 2021 from the transaction.

The 2,100-acre property covers more than three square miles in Frederick County, Maryland and once served as the site of the former Eastalco smelter, which permanently closed in 2010.

The sale transaction was between Eastalco Aluminum Company, a wholly owned subsidiary of Alcoa Corporation, and a joint venture between Quantum Loophole and TPG Real Estate Partners (TREP).

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