7/12/2010
NEWS BRIEFS
Alcoa Fastening Segment Sales Grow
Higher volumes in the aerospace, building & construction and commercial vehicle markets pushed sales at Alcoa’s Engineered Products and Solutions segment, including Alcoa Fastening Systems, up 4.4% to $1.12 billion sequentially during the second quarter of 2010. Aerospace revenue grew 5%, helping segment ATOI jump 32% to $107 million.
Engineered Products sales, including fasteners, dropped 10% to $2.19 billion during the first half of 2010, while six-month ATOI grew 2.7% to $188 million.
Overall second quarter revenue at Alcoa gained 22% to $5.2 billion. Earnings improved $331 million sequentially as stronger volumes, productivity improvements, favorable currency and lower energy costs more than offset a $22 dip in realized metal prices to an average of $2,309 a ton.
In February Alcoa announced a re-alignment of its Engineered Products and Solutions business, which 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. ©2010 GlobalFastenerNews.com
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