5/16/2011 3:57:00 PM
HEADLINES
ALCOA
Alcoa reported sales at its Engineered Products and Solutions segment, including Alcoa Fastening Systems, increased 16% to $1.07 billion in the first quarter of 2011.
First quarter segment ATOI soared 60% to $130 million.
Automotive end markets for the U.S. and China are seeing the highest growth rates, with the U.S. pegged at 9% to 13% growth and China forecasted at 9% to 14% growth.
During 2010 Engineering segment sales declined 2.2% to $4.58 billion despite an 11% sales increase to $1.21 billion during the final quarter.
Full-year ATOI increased 31% to $415 million, boosting by a doubling of its operating income during the fourth quarter.
In March 2011 Alcoa completed its $240 million acquisition of TransDigm Group’s aerospace fastener business, which included Valley-Todeco and Linread.
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
Corporate Office: 201 Isabella St., Pittsburgh, PA 15212-5858. Tel: 412 553-4545 Web: alcoa.com or alcoafasteners.com
CEO: Klaus Kleinfeld
Fastener executives: Olivier Jarrault, President of Engineered Products and Solutions; Vitaliy Rusakov, president, AFS
Employees: 59,000
Related Links:
• Alcoa
Share: