EPA Issues Record of Decision on Grasse River Remediation

Fri Apr 5, 2013 4:44pm EDT

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Alcoa will move forward with next phase of Massena Modernization Project
NEW YORK--(Business Wire)--
Alcoa (NYSE:AA) today confirmed that the U.S. Environmental Protection Agency
(USEPA) has issued a Record of Decision (ROD) on the remediation of the Grasse
River that is consistent with the Proposed Remedial Action Plan issued in
October, 2012. 

Alcoa, USEPA, the NY Department of Environmental Conservation (DEC) and other
parties have been evaluating remedial alternatives to address elevated levels of
polychlorinated biphenyls (PCBs) in fish in the lower Grasse River for more than
15 years. The ROD requires dredging and capping of contaminated sediments in a
7.2 mile stretch of river. The estimated cost of the remediation is $243
million, which Alcoa has fully accrued. 

"Alcoa has worked cooperatively with the EPA to address the PCB sediments in the
Grasse River, and we are pleased to see this final step in the remediation
decision process completed," said Kevin Anton, Alcoa Vice President and Chief
Sustainability Officer. "Based on 15 years of scientific research, Alcoa
believes the remedy is both protective of human health and the environment and
effective over the long term. We look forward to working with the EPA, the New
York State DEC and the other stakeholders during the design and implementation
phases of the project." 

Alcoa can now move forward with the next phase of the Massena Modernization
Project. The next phase includes spending $52 million for work that will begin
in June 2013, including $10 million toward economic development in the North

Alcoa would like to thank the many government officials, employees, union
leaders and community members for their support in getting us to this important
stage in Massena`s future. 

Forward-Looking Statements

This release contains statements that relate to future events and expectations
and as such constitute forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Forward-looking statements
include those containing such words as "expects," "move forward," "will," or
other words of similar meaning. All statements that reflect Alcoa`s
expectations, assumptions or projections about the future other than statements
of historical fact are forward-looking statements. Forward-looking statements
are subject to a number of known and unknown risks, uncertainties, and other
factors and are not guarantees of future performance. Important factors that
could cause actual results to differ materially from those expressed or implied
in the forward-looking statements include: (a) material adverse changes in
aluminum industry conditions, including global supply and demand conditions and
fluctuations in London Metal Exchange-based prices for primary aluminum,
alumina, and other products; (b) deterioration in global economic and financial
market conditions generally, or unfavorable changes in the markets served by
Alcoa; (c) changes in regulatory requirements, an inability to obtain financing,
changes in project economics, capital expenditure restrictions, unexpected
events beyond Alcoa`s control, or other reasons which could preclude or make
unfeasible full implementation of the Massena East modernization plan; and (d)
the other risk factors summarized in Alcoa`s Form 10-K for the year ended
December 31, 2012 and other reports filed with the Securities and Exchange
Commission. Alcoa disclaims any obligation to update publicly any
forward-looking statements, whether in response to new information, future
events or otherwise, except as required by applicable law. 

About Alcoa

Alcoa is the world`s leading producer of primary and fabricated aluminum, as
well as the world`s largest miner of bauxite and refiner of alumina. In addition
to inventing the modern-day aluminum industry, Alcoa innovation has been behind
major milestones in the aerospace, automotive, packaging, building and
construction, commercial transportation, consumer electronics and industrial
markets over the past 125 years. Among the solutions Alcoa markets are
flat-rolled products, hard alloy extrusions, and forgings, as well as Alcoa
wheels, fastening systems, precision and investment castings, and building
systems in addition to its expertise in other light metals such as titanium and
nickel-based super alloys. Sustainability is an integral part of Alcoa`s
operating practices and the product design and engineering it provides to
customers. Alcoa has been a member of the Dow Jones Sustainability Index for 11
consecutive years and approximately 75 percent of all of the aluminum ever
produced since 1888 is still in active use today. Alcoa employs approximately
61,000 people in 30 countries across the world. For more information, visit
www.alcoa.com, follow @Alcoa on Twitter at www.twitter.com/Alcoa and follow
Alcoa on Facebook at www.facebook.com/Alcoa.

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