10/8/2010 12:02:00 AM
NEWS BRIEFS
Alcoa Fastener Segment Sees ATOI Jump

Higher volumes in aerospace and increased construction market share drove revenue at Alcoa Engineered Products, including fasteners, up 4% to $1.17 billion during the third quarter of 2010. Segment ATOI jumped 52% to $114 million, an improvement of $7 million over the previous quarter.
 

Nine-month Engineered Products revenue dipped 6% to $3.37 billion, while ATOI improved 17% to $302 million.< /span>

Overall Alcoa revenue increased 15% to $5.3 billion, while adjusted EBITDA gained 33% to $602 million. 
 

“We see markets strengthening and have increased our 2010 global aluminum consumption forecast to 13% from 12%,” stated CEO Klaus Kleinfeld. “In countries such as China, Brazil, India, and Russia, more and more people are moving into the middle class, driving demand in building and construction, transportation, and packaging.”
 

Suppliers of aerospace and automotive fasteners are expected to achieve solid results in the coming months as production increases to match demand for commercial aircraft and more fuel-efficient cars. ©2010 GlobalFastenerNews.com

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Related Links:

• Alcoa