alcoa takes ownership stake in electronic recy, page-7

Hi TC,
"MHM can be many mulitples of its current size and still not be a financially attractive target for ALCOA"

IAlcoa builds plants and moves into new markets for less profit on each than MHM would bring, IF they prove the technology to the satisfaction of ALCOA quickly enough to dominate the global market. As no other company appears to have the ability to do what MHM does profitably, that seems reasonably likely.
It would have an application in every part of the world in which Alcoa operates and they would be in control of its roll out.
Buying cash flow is always attractive, the same principle would apply to a smaller buy in. It also would make them the owner of green technology, rather than just the users.

I'm not saying it will happen, but I do think it will be considered.