Alcoa files SEC registration for $5.6b South32 alumina, aluminium and bauxite asset deal
Alcoa has moved its proposed acquisition of South32's bauxite, alumina and aluminium interests forward with a US SEC filing, with the transaction carrying an implied enterprise value of up to USD 5.6 billion. Alcoa Corporation has filed a Form S-4 registration statement with the US Securities and...
Alcoa to build 100t gallium facility at Wagerup alumina refinery with $174m Pentagon support
The Pentagon has announced a USD 174 million financing package for the aluminium producer Alcoa to set up a gallium production facility at its Wagerup alumina refinery in Western Australia, bringing critical mineral production into the refinery’s operations. The new facility is expected to produce...
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Smelter capacity cuts surprise on the upside
ALCOA’S second quarter earnings issued overnight surprised on the upside and contained a glimmer of optimism for the long-beleaguered upstream segments of the aluminium industry. The turnaround in the performance of Alcoa’s primary metals business, which produced a $US97 million profit in the...
Sale of Jamalco part of global cuts being made by Alcoa
The plan by US-based Alcoa to divest its Jamaica operations forms part of its global transformation that will also see it slash production in Brazil and Australia, management indicated. It aims to contain costs which at times exceed revenues at the global company. "To further optimise the Alumina...
Alumina struggles as Alcoa fires
Strong earnings and a buoyant market outlook from US aluminium giant Alcoa failed to translate into good news for its local junior partner, Alumina, which is not exposed to the business that fired Alcoa’s second-quarter earnings. Alumina’s sole business is a 40 per cent stake in the Alcoa World...
Alcoa beats estimates as aluminum smelting unit recovers
Alcoa Inc. (AA), the struggling U.S. aluminum producer that’s shifting its focus to manufacturing auto and aerospace components, reported better-than-expected profit on the strength of its traditional aluminum smelting business. Second-quarter profit excluding restructuring costs and other one-time...
Alumina shares react to Alcoa result
Shares in bauxite miner and aluminium smelter Alumina (AWC) have dropped this morning after the company’s chief executive said conditions declined in the second quarter, despite US joint venture partner Alcoa posting an earnings boost. Shares in Alumina finished yesterday 1.41% higher at $1.44...
Alcoa's quarterly earnings jump on lower costs
Aluminium producer Alcoa last night reported a jump in earnings on strong metals pricing and lower costs as it confirmed its outlook for 7% aluminium demand growth in 2014. Alcoa, the first major US company to report second-quarter earnings, said net income for the period ending June 30 was $138m,...
Hindalco gains after Alcoa's earnings beat
Shares of Hindalco Industries Ltd are trading sharply higher after U.S. rival Alcoa Inc reported better-than-expected earnings, several traders said. Alcoa also increased its 2014 growth estimate for the North America commercial transportation market. Shares of Hindalco, India's leading aluminium...
Alcoa’s strong second quarter 2014 profits driven by continued portfolio transformation
2Q 2014 Highlights • Net income of $138 million, or $0.12 per share; excluding special items, net income of $216 million, or $0.18 per share, up sequentially and year-over-year • Revenue of $5.8 billion, up 7 percent sequentially, steady from the prior year period • Engineered Products and...
Alcoa earnings: Aeropace demand, aluminum pricing to be in focus
Alcoa may no longer be a “blue chip” stock since its ouster from the Dow Jones Industrial Average, but it is still viewed as the company that will ceremoniously kick-off earnings season when it reports second-quarter results after Tuesday’s close. The stock has been on a roll in 2014, and investors...
Alcoa tells US SEC that warehousing reforms could hit premiums
Aluminium producer Alcoa will in future warn investors about the risks proposed warehousing rules could pose to its business, saying they could affect its finances and the premiums it charges, according to correspondence with regulators. In a reply to queries from the US Securities and Exchange...
Alcoa to host webcast of second quarter 2014 results
Alcoa will hold a conference call on Tuesday, July 8 beginning at 5:00 p.m. EDT to discuss second quarter 2014 results and business developments. The conference call will be webcast live via Alcoa's website, with presentation materials available online at 4:15 p.m. EDT. Conference Call Information...
Alcoa announces appointments for Global Primary Products and European region
Alcoa today announced new appointments in its Global Primary Products (GPP) segment and for its European region. Tómas Már Sigurdsson has been promoted to Chief Operating Officer for GPP effective June 24. He will focus on the day-to-day operations of Alcoa’s aluminum smelters, alumina refineries...
Alcoa to acquire Firth Rixson to grow global aerospace portfolio
• $2.85 billion acquisition, $2.35 billion in cash, $500 million common stock; additional $150 million potential earn-out • Significantly accelerates Alcoa’s portfolio transformation, builds out value-add business, grows innovation capabilities and broadens multi-material product mix • Increases...
Ma’aden-Alcoa JV first production-grade coil
The Saudi Arabian Mining Company (Ma’aden) and Alcoa announced Tuesday at a customer event that the rolling mill at their joint venture aluminum complex in Saudi Arabia has successfully produced its first production-grade coil. The mill at Ras Al Khair is the most technologically advanced in the...
Aluminium sheet market on cusp of big growth
ALUMINIUM giants Alcoa and Novelis spent decades wooing Detroit’s vehicle makers to toss out their heavy steel vehicle bodies and overhaul their factories in order to mass produce vehicles made out of lighter aluminium. This year, with Ford Motor ’s launch of its new aluminium-intensive F-150...
Alcoa and Novelis gears up for the next competition in aluminum auto race
Novelis Inc and Alcoa Inc have spent decades wooing the Detroit’s automakers to throw their heavy steel vehicle bodies and renovate their factories for mass production of lighter aluminium vehicles. With the launch of Ford Motor Co’s F-150 Truck this year, the company is reaping the benefits of the...
Alcoa boosting aerospace capabilities in Virginia to meet demand for next-gen aircraft engine parts
Leading aerospace manufacturer Alcoa is expanding in Virginia to capture demand for next-generation aircraft engine parts. The Company is investing $25 million at its Alcoa Power and Propulsion facility in Hampton, Virginia to scale-up a breakthrough process technology that cuts the weight of its...
AWAC to pursue sale of its stake in Jamalco
Alcoa World Alumina & Chemicals Signs Letter of Intent to Pursue Sale of its Stake in Jamalco Alcoa confirms that it has signed a non-binding Letter of Intent with Noble Resources UK Limited to pursue a sale of its ownership stake in Alcoa Minerals of Jamaica, L.L.C (AMJ), which operates the...
