4/13/2016 10:33:00 AM
NEWS BRIEFS
Alcoa Fastener Segment Sees Record Sales
Alcoa reported revenue for its Engineered Products and Solutions (EPS) segment, including results from Alcoa Fastening Systems and Rings, rose to a record first quarter total of $1.4 billion, boosted by a 14% rise in aerospace sales.
Segment ATOI increased 4% to a record $162 million, and adjusted EBITDA margin was 21% during Q1.
Overall Alcoa revenue declined 15% to $4.9 billion, hurt by “continued low alumina and aluminum prices, foreign exchange impacts and divested, curtailed or closed operations.”
Alcoa also affirmed that its 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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• Nucor Fastener Segment Sales Decline
Related Links:
• Alcoa
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