The Reynolds Metals Company was founded in 1919 as the U.S. Foil Company in
Louisville, Kentucky, by
Richard S. Reynolds Sr., nephew of tobacco king
R. J. Reynolds. Initially, the new company supplied lead and tin foil wrappers to cigarette and candy companies. In 1924, U.S. Foil purchased the manufacturer of
Eskimo Pies, which were wrapped in foil. In 1928, Reynolds purchased Robertshaw Thermostat, Fulton Sylphon, and part of Beechnut Foil, adding them to U.S. Foil to create Reynolds Metals. In 1931, the company moved its headquarters to
New York City and in 1938 the headquarters moved again to
Richmond, Virginia. The company began producing
aluminum foil for packaging in 1926. Reynolds Metals created the first high-speed,
gravure-printed foil, aluminum bottle labels, heat-sealed foil bags for foods and foil-laminated
building insulation paper. In 1940, Reynolds Metals began mining
bauxite (aluminum ore) in
Bauxite, Arkansas, and opened its first aluminum plant near
Sheffield, Alabama, the following year. In 1947, the company released Reynolds Wrap Aluminum Foil. Reynolds Metals pioneered the development of aluminum siding in 1945, and Richard S. Reynolds began predicting a growing demand for additional aluminum during peacetime. He believed new aluminum-producing facilities would need to be built to meet demand. Reynolds Metals Company leased, and later bought, six government defense plants that were up for disposal. Reynolds later expanded into non aluminum products such as plastics and precious metals, introducing Reynolds Plastic Wrap in 1982. After the Second World War, the sense of aluminum's utility expanded to include its ornamental characteristics. By repurposing military by-products into consumer goods, aluminum was now being marketed for its decorative appeal as well, creating a product of both functional and eye-catching qualities. Reynolds advertised aluminum for its multi-faceted property, now reaching areas of fashion, home improvement, and architecture. The aluminum vehicles were surpassed in weight and cost by steel, plastics and fiberglass. However, when Reynolds Metals developed the world's first aluminum submarine, the
Aluminaut, the experimental product participated in a key rescue. In 1969,
Aluminaut rescued
Alvin (DSV-2). Aluminaut's assistance enabled
Woods Hole Oceanographic Institution to continue operating its submersible. Alvin's work continues 45 years later. By 1991, Reynolds Metals employed 30,800 workers at more than 100 operations in 20 countries, including 64 plants in the United States, and had a total production capacity of more than 1 million tons of aluminum and aluminum products. The company was acquired by
Alcoa on May 3, 2000, to become the largest aluminum company in the United States. In an initiative led by Paul D. Thomas, Reynolds Packaging Group chief executive officer and a former Alcoa executive, on September 21, 2008, Reynolds announced that one of the foil plants that produced Reynolds Wrap, in downtown Richmond, Virginia, would be closed and foil operations moved to Louisville, Kentucky, where Reynolds Wrap first was produced. A small portion of the spooling operation from the Richmond Foil plant was moved to the Reynolds plant in Grove City, Pennsylvania, in early 2010. Hart later closed five other plants within Reynolds. As a reflection of the recessionary times, salaries were frozen and salaried employees were not given pay raises. Union employees with fixed compensation contracts did receive incentive compensation. In early 2010 all pay was unfrozen. Salaried employees have since received pay adjustments. ==Headquarters==