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In line with its commitment to recycling, Reynolds set a long-term goal of recycling more plastics each year than it produces. As Reynolds Metals entered the s, the company was in the best financial condition in its history.
Modernization of its plants continued with the construction of a new metric-ton-per-year facility at the company's Baie Comeau, Quebec, smelter, along with expansion and modernization of other company plants in Western Australia, Texas, and Louisiana. In addition to its capital investment program, the company expanded its research-and-development efforts.
The company has developed new process technologies in aluminum-lithium casting, electromagnetic casting, and various techniques in automation. In new products included a light-weight, stronger composite architectural panel metal for the construction industry.
With the demand for lighter, more fuel-efficient automobiles, the use of aluminum in U. Reynolds's research had helped develop technology for the manufacture of aluminum automobile drive shafts and radiators.
In the company acquired an interest in the Fata European Group in Italy, a company with strong ties to and business experience in Eastern Bloc countries. In , Reynolds sold its wire and cable operations, as well as its 84 percent interest in Eskimo Pie. The company also announced that employment would once again be reduced by 12 percent to cut costs.
In Reynolds underwent a restructuring that included reducing alumina production and aluminum production by 21 percent, and sold its aluminum reclamation plant in Benton Harbor, Michigan. In , Reynolds purchased the aluminum and stainless steel products distribution business of Prime Metals. The company also sold its 40 percent interest in Australia's Boddington Gold Mine, but was to exit the gold business altogether the next year.
In , a pact to scale back production in the next two years among the chief aluminum-producing nations helped Reynolds to achieve strong sales. However, decline for beer beverage cans was continuing, and another can-making plant was closed in Fulton, New York. One market that did show promise, though, was bridge deck replacement, and in Reynolds renovated the Corbin suspension bridge in Huntingdon County, Pennsylvania.
The foot bridge built in the s was refitted with 22 aluminum deck panels. In , another can-making plant was closed in Houston, Texas, but the modernization of a plant in Torrance, California, neared completion with the number of manufacturing lines reduced from six to three. Many of the other modernized plants were making cans with smaller, lighter ends which reduces the amount of metal needed for a ounce can by three percent.
Even with smaller cans, recycling them and other aluminum products was achieving record levels. Reynolds recycled million pounds of aluminum, including more than 11 billion aluminum beverage cans, and nearly million pounds of non-can aluminum scrap in alone.
Furthermore, the company noted that as more and more aluminum is used in automobiles, appliances, building products, packaging items, foil and foil products, and other household goods, there will be more metals entering the recycling stream.
Disappointing sales in , due to low aluminum prices and lower demand for some of its products, led to yet another company restructuring. Effective April 1, , the company was organized into six global units, down from its former 20 operating units, that would focus on the most profitable aluminum markets around the world.
The new units were packaging and consumer products, construction and distribution, transportation, metals and carbon products, bauxite and alumina, and cans. The year also saw a milestone for Reynolds Wrap Aluminum Foil, which celebrated its 50th year. James Press, As consumers, we often take for granted all the hard work that goes into building a great company.
No matter which Turkey Dog you make this Thanksgiving, look no further than Reynolds Wrap Heavy Duty Foil as the sturdy cooking companion for easy prep, easy cook and easy cleanup so you can spend less time in the kitchen and more time debating which Turkey Dog is best. Reynolds Consumer Products is a leading provider of quality household essentials that have been trusted for generations.
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