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):
September 15, 1995
REYNOLDS METALS COMPANY
_________________________________
(Exact name of registrant as specified in its charter)
Delaware 1-1430 54-0355135
________ ______ __________
(State of Incorporation) (Commission (IRS Employer
File Number) Identification No.)
6601 West Broad Street
P. O. Box 27003
Richmond, Virginia 23261-7003
_____________________________
(Address of Principal Executive Offices,
including zip code)
(804) 281-2000
______________
(Registrant's Telephone Number, including area code)
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Item 5. Other Events.
On September 15, 1995, the registrant announced that it has
agreed to purchase an additional 24.95 percent interest in the
Becancour, Quebec, Canada, primary aluminum production plant from
Societe Generale de financement du Quebec ("SGF"), an agency of
the Government of Quebec. The purchase price is approximately
U.S. $390 million, plus working capital associated with SGF's
interest in the plant.
The registrant plans to fund the acquisition through a
combination of internal cash and debt financing. The transaction
is expected to be completed in October, 1995, subject to
government approvals.
When the transaction is completed, the registrant will own
50 percent of the Becancour joint venture. At current production
levels, the transaction will provide the registrant an additional
93,000 metric tons of the joint venture's finished primary
aluminum annual output for a total of 186,000 metric tons, and
increase the registrant's worldwide primary aluminum production
capacity to approximately 1.09 million metric tons per year.
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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.
REYNOLDS METALS COMPANY
By: D. Michael Jones
D. Michael Jones
Vice President, General
Counsel and Secretary
Dated: September 15, 1995
