7/9/2009
NEWS BRIEFS
Alcoa Fastener Segment Sales Drop
Alcoa’s Engineered Solutions segment, including Alcoa Fastening Systems, reported revenue declined 6% to $1.2 billion during the second quarter of 2009 “due to weak end markets. Segment operating income slipped 48% to $88 million during Q2.
“Weakening conditions in the aerospace and building and construction markets were partially offset by productivity gains (in Engineered Solutions),” the company stated.
Engineered Solutions revenue declined 23% to $2.46 billion during the first half of 2009, while operating income dropped 42% to $183 million.
Overall Alcoa Q2 revenue slipped 41% to $4.24 billion, with a net loss of $459 million. First-half revenue dropped more than 40% to $8.4 billion, producing a loss of $946 million for the first six months of 2009. ©2009 GlobalFastenerNews.com
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