Alcoa, New York, announced on May 4 that it has agreed to sell its wire harness and electrical distribution business to Platinum Equity, a California-based private equity group. The terms of the sale were not disclosed. The wire harness and electrical distribution business is the largest part of the Alcoa Electrical and Electronic Solutions business, which the company announced was for sale in January.
The transaction is expected to be completed by the end of the second quarter of 200
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