7/12/2016
NEWS BRIEFS
Record Results for Alcoa Fastener Segment
Alcoa reported Engineered Products and Solutions segment sales, including fasteners, achieved record revenue of $1.5 billion and record ATOI of $180 million during the second quarter of 2016.
Year-over-year, revenue rose 15%, driven by the RTI acquisition. ATOI was up $15 million, or 9%, year-over-year as productivity improvements in all businesses and the positive contribution from the RTI acquisition were mostly offset by unfavorable price/mix, cost headwinds and investments in growth projects.
Six-month segment sales gained 15% to $2.91 billion, with ATOI rising 6.5% to $342 million.
Alcoa’s separation into two, independent, publicly-traded companies in the second half of 2016 “remains on track.” In September 2015 Alcoa’s board unanimously approved a plan to separate the company into two independent, publicly-traded companies.
Alcoa’s $1.8 billion Fastening Systems and Rings business is part of Arconic, which also includes Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions.
Torrance, CA-based Alcoa Fastening Systems & Rings designs and manufactures fastening systems and rings, including specialty fasteners, fluid fittings, assembly components, installation systems, and seamless rings, for aerospace and industrial applications. AFS&R has over 8,700 employees at 39 manufacturing and distribution/logistics locations in 13 countries. Web: afsr.alcoa.com
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Related Links:
• Alcoa
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