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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000950130-02-001670.txt : 20020415
<SEC-HEADER>0000950130-02-001670.hdr.sgml : 20020415
ACCESSION NUMBER:		0000950130-02-001670
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20020318
ITEM INFORMATION:		Other events
ITEM INFORMATION:		Financial statements and exhibits
FILED AS OF DATE:		20020319

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ALCOA INC
		CENTRAL INDEX KEY:			0000004281
		STANDARD INDUSTRIAL CLASSIFICATION:	PRIMARY PRODUCTION OF ALUMINUM [3334]
		IRS NUMBER:				250317820
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-03610
		FILM NUMBER:		02578127

	BUSINESS ADDRESS:	
		STREET 1:		201 ISABELLA ST
		STREET 2:		ALCOA CORPORATE CTR
		CITY:			PITTSBURGH
		STATE:			PA
		ZIP:			15212-5858
		BUSINESS PHONE:		4125532576

	MAIL ADDRESS:	
		STREET 1:		801 ISABELLA ST
		STREET 2:		ALCOA CORPORATE CTR
		CITY:			PITTSBURGH
		STATE:			PA
		ZIP:			15212-5858

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALUMINUM CO OF AMERICA
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d8k.txt
<DESCRIPTION>FORM 8-K
<TEXT>
<PAGE>

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                 ---------------


                                    FORM 8-K

                                 CURRENT REPORT

                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934


        Date of Report (Date of earliest event reported): March 18, 2002



                                   ALCOA INC.
                                   ----------
             (Exact name of Registrant as specified in its charter)




        Pennsylvania                 1-3610                   25-0317820
        ------------                 ------                   ----------
(State or Other Jurisdiction       (Commission             (I.R.S. Employer
     of Incorporation)             File Number)          Identification Number)




201 Isabella Street, Pittsburgh, Pennsylvania                 15212-5858
- ---------------------------------------------                 ----------
  (Address of Principal Executive Offices)                    (Zip Code)



                   Office of Investor Relations  212-836-2674
                   Office of the Secretary       412-553-4707
                   ------------------------------------------
              (Registrant's telephone number, including area code)

<PAGE>

Item 5.    OTHER EVENTS.

           On March 18, 2002, Alcoa Inc. announced that it had entered into an
agreement to acquire Chicago-based Ivex Packaging Corporation in which the
shareholders of Ivex will receive $21.50 per share in cash. A copy of the press
release is filed herewith as Exhibit 99 and is hereby incorporated herein by
reference.

Item 7.    FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

           (c) Exhibits

           99      Press Release dated March 18, 2002.









                                       2

<PAGE>

                                   SIGNATURES

           Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                         ALCOA INC.

                                         By:  /s/ Lawrence R. Purtell
                                              ----------------------------------
                                              Lawrence R. Purtell
                                              Executive Vice President and
                                              General Counsel

Dated:  March 18, 2002













                                       3

<PAGE>

                                INDEX TO EXHIBITS

Exhibit No.                        Description
- -----------                        -----------

99                      Press Release dated March 18, 2002.







                                       4


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>dex99.txt
<DESCRIPTION>PRESS RELEASE
<TEXT>
<PAGE>


                                                                      Exhibit 99


Editorial Contact:   Joyce A. Saltzman
                     412-553-4467

Investor Relations:  Charles D. McLane, Jr.
                     212-836-2764
                     Paul Kisner
                     212-836-2675

Alcoa Agrees to Acquire Ivex Packaging Corporation; Move Broadens Alcoa's
Position in the Food Service and Consumer Packaging Industry

           PITTSBURGH, March 18, 2002 - Alcoa Inc. announced today that it has
entered into an agreement to acquire Chicago-based Ivex Packaging Corporation in
which the shareholders of Ivex will receive $21.50 per share in cash. The total
enterprise value of the acquisition, including the assumption of debt, is
approximately $790 million. The acquisition will exclude Ivex's 48.2% interest
in the common stock of Packaging Dynamics Corporation, which will be distributed
to Ivex's shareholders.

           Ivex is a leading manufacturer of specialty plastic packaging for the
food, electronic, medical, and retail markets with revenues totaling $643
million in 2001. Ivex has approximately 3,700 employees primarily in North
America, as well as Europe and Southeast Asia. It will become part of Alcoa's
global packaging and consumer business.

           "The addition of Ivex will broaden Alcoa's position in the food
packaging and foodservice packaging markets, where we already have a strong
presence," said Alcoa Chairman Alain Belda. "This acquisition is consistent with
our previously articulated strategy to profitably grow our packaging and
consumer business."

           Alcoa expects the transaction to be accretive to earnings within the
first year and estimates the potential for annual synergies to be $75 to $100
million within three years.

           Alcoa's global packaging and consumer segment had $2.7 billion in
revenues and an after-tax operating income of $185 million in 2001.

           The transaction is subject to the approval of Ivex shareholders and
customary regulatory approvals. The parties expect the transaction to be
completed during the second quarter of 2002.

           Alcoa is the world's leading producer of primary aluminum, fabricated
aluminum and alumina and is active in all major aspects of the industry -
mining, refining, smelting, fabricating and recycling. Alcoa's aluminum products
and components are used worldwide in many products including aircraft and
automobiles and a wide variety of consumer and industrial applications,
including such Alcoa brands as Reynolds Wrap(R) aluminum foil and Baco(R)
household wraps. Alcoa has 129,000 employees in 38 countries.

                                       ###

Certain statements in this release relate to future events and expectations and
as such constitute forward-looking statements involving known and unknown risks
and uncertainties that may cause actual results, performance or achievements
related to this transaction to be different from those expressed or implied in
the forward-looking statements. Important factors that could cause actual
results to differ materially from those in the forward-looking statements
include Alcoa's inability to achieve the level of synergies anticipated by
management, including possible increases in the cost of doing business resulting
from war or terrorist activities, and other risk factors summarized in Alcoa's
SEC reports.

Alcoa Inc. (NYSE: AA)
Ivex Packaging Corp. (NYSE: IXX)

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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