2/2/2010
HEADLINES
Alcoa Realigns Fastening Segment, Promotes Jarrault and Rusakov

Alcoa promoted Alcoa Fastening Systems president Olivier Jarrault to the newly created position of COO of Engineered Products and Building Systems, which includes AFS in its business group. Jarrault will lead the Alcoa Fastening Systems, Alcoa Wheels and Transportation Products, and Building and Construction Systems business units. He had been AFS president since 2002.

Vitaliy Rusakov will replace Jarrault as president of AFS. Rusakov had been Vice President and General Manager of Operations, Alcoa Fastening Systems North America Aerospace, responsible for California operations in City of Industry, Carson, and Van Petty. He also and led the implementation of AFS Strategic initiatives in Suzhou, China, for his operations.

Earlier in his career in Ukraine, Rusakov held consulting roles with Bain and Company, a global management consulting firm.

The promotions come as parent company Alcoa announced a re-alignment of its Engineered Products and Solutions (EPS) business. The EPS business is composed of Alcoa units that serve the aerospace, automotive, commercial transportation, building and construction, and oil and gas markets, with 2009 revenue nearing $4.7 billion.

“These changes strengthen the Engineered Products business globally as we drive for further growth,” stated Bill Christopher, executive vice president and group president of Engineered Product and Solutions.

During 2009 Alcoa reported sales at its Engineered Products segment, including fasteners, declined 24% to $4.7 billion, while segment operating profit dipped 40% to $315 million.

Engineered Products sales during the fourth quarter of 2009 decreased 21% to$1.09 billion, with operating profit dropping 22% to $57 million. ©2010 GlobalFastenerNews.com

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Related Links:

• Alcoa