Alcoa Wants to Sell Its $250 Million Texas Ranch With an Industrial Past [Yahoo! Finance News]
Alcoa Corporation (AA)
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Source: Yahoo! Finance News
Alcoa Wants to Sell Its $250 Million Texas Ranch With an Industrial Past ) -- Alcoa Corp. is trying to sell its ranch. The metals giant is looking to jettison as much as $1 billion in assets, including the roughly 32,000-acre property in Rockdale, Texas, in a push to trim costs. Alcoa is asking $250 million for Sandow Lakes Ranch, which comes with wildlife, mineral rights, 14 lakes and a smelter that once produced aluminum. The property, about 35 miles northeast of Austin, is 31 miles long and more than twice the size of Manhattan. Alcoa has owned the property since the 1950s and had a plant there that was shut down in 2008. There are white-tailed deer, hogs, quail and two nesting pairs of American bald eagles on the property. The land also features an industrial park that’s now home to a cryptocurrency mining operation. Alcoa has been trying to find a buyer for the land for at least the past three years. The company announced last week that it wants to sell between $500 million to $1
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