1/27/2012 12:01:00 AM
HEADLINES
Alcoa CEO: “We are #1 in fasteners.”
Alcoa reported Engineered Products revenue in the fourth quarter rose 12% to $1.4 billion. Segment ATOI grew 8% to $122 million from fourth quarter 2010 and down 12% from third quarter 2011. Sequentially, decreased ATOI was mainly driven by cost increases and unfavorable product mix, partially offset by productivity improvements.
Full-year Engineered Products revenue increased 16.6% to $5.34 billion, with segment ATOI climbing 30% to $539 million.
The results were reinforced by CEO Klaus Kleinfeld in a conference call to journalists.
So last but not least, and when you see the strategic things on EPS. “We continue to drive innovation and acquisitions as the major driver for our downstream profitable growth,” Kleinfeld stated. “On the innovation side, I really almost don’t know where to start. We are #1 in fasteners. 90% of the fasteners are specialty fastener, 55% are patented.”
“And in addition to that, we have the bolt-on acquisitions on the fasteners side from Perry Republic [ph], TransDigm.”
In March 2011 Alcoa completed its $240 million acquisition of TransDigm Group’s aerospace fastener business, which included Valley-Todeco and Linread.
Alcoa entered the fastener industry with the 2000 acquisition of Cordant Technologies Inc., which included Huck. Huck had acquired fastener manufacturer Jacobson Mfg. Co. in 1998 and Chicago-based Continental/Midland Group in 1999.
Alcoa acquired Fairchild Fasteners in 2002 for $655 million, combining the company with Huck International to form AFS.
AFS operates 29 manufacturing and distribution facilities in the U.S., Mexico, Europe, Asia and Australia. AFS employs 5,500 people in two divisions: aerospace and industrial. The company is headquartered at 3016 W. Lomita Blvd., Torrance, CA 90505. Tel: 805 527-3600 Web: alcoafasteners.com ©2012 GlobalFastenerNews.com
Alcoa reported Engineered Products revenue in the fourth quarter rose 12% to $1.4 billion. Segment ATOI grew 8% to $122 million from fourth quarter 2010 and down 12% from third quarter 2011.
Sequentially, decreased ATOI was mainly driven by cost increases and unfavorable product mix, partially offset by productivity improvements.
Full-year Engineered Products revenue increased 16.6% to $5.34 billion, with segment ATOI climbing 30% to $539 million.
The results were reinforced by CEO Klaus Kleinfeld in a conference call to journalists.
“We continue to drive innovation and acquisitions as the major driver for our downstream profitable growth,” Kleinfeld stated. “On the innovation side, I really almost don’t know where to start. We are #1 in fasteners. 90% of the fasteners are specialty fastener, 55% are patented.”
“And in addition to that, we have the bolt-on acquisitions on the fasteners side from Perry Republic [ph], TransDigm.”
In March 2011 Alcoa completed its $240 million acquisition of TransDigm Group’s aerospace fastener business, which included Valley-Todeco and Linread.
Alcoa entered the fastener industry with the 2000 acquisition of Cordant Technologies Inc., which included Huck. Huck had acquired fastener manufacturer Jacobson Mfg. Co. in 1998 and Chicago-based Continental/Midland Group in 1999.
Alcoa acquired Fairchild Fasteners in 2002 for $655 million, combining the company with Huck International to form AFS.
AFS operates 29 manufacturing and distribution facilities in the U.S., Mexico, Europe, Asia and Australia. AFS employs 5,500 people in two divisions: aerospace and industrial. The company is headquartered at 3016 W. Lomita Blvd., Torrance, CA 90505. Tel: 805 527-3600 Web: alcoafasteners.com ©2012 GlobalFastenerNews.com
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