Alcoa Takes Ownership Stake in Electronic Recyclers International (AA)

Alcoa AA announced today it has become a minority investor in Electronic Recyclers International (ERI). Alcoa Vice President and Chief Sustainability Officer Kevin Anton will also become a director of ERI. Consumer electronics represents a fast-growing market for aluminum because of the metal's light weight, durability, heat conductivity and limitless surface finishes. Aluminum content in laptops alone is expected to increase 30 percent by 2013, from a 2010 baseline. Through this new partnership, Alcoa will bring its expertise in recycling to the growing challenge of e-waste, enhancing the role aluminum plays in making electronics more sustainable. “We see tremendous opportunity for aluminum in the consumer electronics market,” Anton said. “This partnership between our two companies enhances Alcoa's ability to deliver on its commitment to sustainability by increasing the recycling of consumer electronics and driving sustainable practices. “As the country's largest e-waste recycler, ERI shares Alcoa's commitment to financial success, environmental excellence, and social responsibility, and I look forward to working with ERI to drive recycling in the consumer electronics market.” Alcoa partnered with ERI in 2010 to develop the free Aluminate recycling app for iPhone, as part of the company's goal of increasing the recycling rate of aluminum cans in the U.S. to 75 percent by the year 2015. Alcoa's investment will help further develop ERI's industry-leading recycling technologies and expand its geographic footprint across the U.S. Anton's addition to the ERI board will deepen its capacity and expertise through his background in both finance and sustainability. Prior to leading Alcoa's sustainability efforts, Anton served as vice president, finance and strategy, for Alcoa Global Primary Products and brings more than 30 years of leadership in the metals and mining industry to the board. As part of its ongoing commitment to the environment and sustainability, Alcoa also announced today that it will become an enterprise member of the Basel Action Network (BAN)'s e-Stewards Certification program, an organization dedicated to eliminating the disproportionate impact of trade in toxic chemicals and products on developing countries. ERI was a founding member of BAN's e-Stewards Certification program. “Aluminum's use in the global consumer electronics market continues to increase rapidly and we are honored to partner with Alcoa, a leader in the industry,” said John S. Shegerian, ERI's co-founder, chairman and CEO. “This partnership will allow us to continue expanding and improving our operations while keeping pace with the ever-growing demand for sustainable solutions to electronic waste.”