8/18/2015
HEADLINES
Alcoa Realigns Downstream Segment
Alcoa is realigning its downstream portfolio into two segments. One segment, including Alcoa Fastening, will focus solely on aerospace, and the other segment will be centered on the construction and the commercial wheels markets.
The Engineered Products and Solutions (EPS) segment, led by Group President Olivier Jarrault, has been streamlined for “enabling a core focus on position of Alcoa as a premier aerospace partner,” the company stated. The EPS group will be comprised of business units that cater to the aerospace market primarily, which include Alcoa Titanium & Engineered Products, Alcoa Fastening Systems & Rings, Alcoa Forgings & Extrusions, and Alcoa Power & Propulsion.
CEO Klaus Kleinfeld stated that these changes “provide important leadership and organizational advances.”
“This realignment optimizes company’s organizational structure and expands its leadership capabilities to capture profitable downstream growth more rapidly,” Kleinfeld added.
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 22 manufacturing and distribution facilities in the U.S., Mexico, Europe, Asia and Australia. AFS employs 6,800 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
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