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March 17, 2014
06:01 EDTAAAlcoa to invest $13M to expand wheel manufacturing plant in Europe
Alcoa is investing $13M to expand its wheel manufacturing plant in Europe, to meet growing demand for its lightweight, durable, low-maintenance aluminum truck wheels. The expansion of the Székesfehérvár, Hungary facility will enable Alcoa to produce twice as many Dura-Bright EVO surface-treated wheels in Europe by early 2015, compared with current production levels. Construction on the production line expansion began in January 2014, with completion expected in early 2015. It will create 35 new permanent jobs and approximately 215 temporary jobs during construction. The Hungarian Government will contribute $4.4M toward the construction through its Regional Operative Program, a government-led economic development initiative.
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March 3, 2015
05:26 EDTAAAlcoa completes acquisition of TITAL
Alcoa announced that it has completed the acquisition of privately held TITAL. Alcoa closed the transaction, which was announced on December 15, 2014, after receiving all of the required global regulatory approvals. TITAL is a manufacturer of titanium and aluminum structural castings for aircraft engines and airframes. Alcoa sees a current 8-year production order book at 2014 delivery rates. Almost 70% of TITAL’s revenues are expected to come from commercial aerospace sales in 2019. Further, its titanium revenues are expected to increase by 70% over the next five years as manufacturers of next-generation jet engines look to titanium solutions for engine structural components. In 2014, TITAL generated revenues of approximately approximately $100M, more than half of which came from titanium products. TITAL’s business is being integrated into Alcoa’s Engineered Products and Solutions segment.
February 26, 2015
09:35 EDTAAActive equity options trading on open
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February 23, 2015
07:40 EDTAABMO Capital to hold a conference
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