May 1, 2009 (FinancialWire) — Aluminum maker Alcoa (NYSE: AA) said 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’s electrical and electronic solutions business, which the company put up for sale in January.

Alcoa said it expects that the transaction will be completed by the end of the second quarter of 2009. The sale includes operations in 13 countries and involves around 17,500 employees.

In a statement, the company said that the sale of its electrical and electronic solutions business is part of an effort to focus on businesses “where Alcoa brings strong technical and parental advantage.”

Alcoa is in discussions with multiple parties on the sale of the remainder of the business, which consists of the electronics portion of the operation. That business has around 500 employees in three European countries.

New York-based Alcoa said it expects to record a loss in discontinued operations in connection with the closing of the sale of the wire harness and electrical distribution business.

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