LONDON -- The worlds leading aluminum maker, Alcoa Inc., and Luxfer Holdings Plc. said Thursday Alcoa will acquire the aluminum plate, sheet and soft-alloy extrusion production and distribution businesses of Luxfer's wholly-owned subsidiary British Aluminium Ltd. for [pound]182 million ($273 million).

The deal, which is subject to clearance by European antitrust authorities, but not U.S. regulatory approval, was announced in a joint statement issued by Pittsburgh-based Alcoa and Luxfer, head quartered In Manchester, England.

The businesses, to be acquired generated about [pound]220 million. ($360 million) in revenue in 1999 and have 1,550 employees.

British Aluminium's manufacturing operations are based in England and Wales and its distribution businesses operate in England, Wales, Scotland and Ireland under the names Aluminium Supply Aerospace and Baco Metal Centres. A sales office in St. Louis was included in the purchase.

All U.K. operations will become part of Alcoa Europe. Ricardo E. Belda, Alcoa vice president. and president .of Alcoa Europe, said "The acquisition of the British Aluminum business further demonstrates Alcoa's commitment to The European markets. In particular, this transaction will enable us to offer an extensive line of Alcoa products to the aerospace and plate customers from these European-based facilities."

Luxfer's chief executive, Ian McKinnon said the sale represented an important milestone for the group. "This sale represents the first major reshaping of the group since it was formed in 1996. It will provide Luxfer with funds to reinvest in its retained businesses."