Jason Sandefur

Alcoa’s Engineered Solutions segment, including Alcoa Fastening Systems, reported revenue grew 5.8% to $1.77 billion during the first quarter of 2008, while after-tax income rose 31% to $138 million.
During Q1 AFS boosted its aerospace capacity by acquiring Republic Fastener Manufacturing Corp. and Van Petty Manufacturing, both of Newbury Park, CA. The companies have a total of 240 employees and combined 2007 revenue of $51 million.
AFS president Olivier Jarrault said the acquisitions added “much needed aerospace fastener capacity.” AFS is a primary supplier to Boeing’s 787 Dreamliner program, which has faced costly delays due to a critical aerospace fastener shortage.
For 2007 Alcoa’s Engineered Solutions revenue in 2007 topped $6.7 billion, while income swelled to $382 million for the year.
Overall Alcoa sales declined 6% to $7.4 billion, while income was halved to $303 million. Web: alcoa.com �2008 FastenerNews.com