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Stock Market & Financial Investment News

News Breaks
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.
News For AA From The Last 14 Days
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August 4, 2015
10:01 EDTAAOn The Fly: Analyst Upgrade Summary
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05:32 EDTAAAlcoa upgraded to Buy from Neutral at UBS
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August 3, 2015
10:01 EDTAAAlcoa falls, levels to watch
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July 26, 2015
15:35 EDTAAAlcoa looks 'far more promising' under CEO Kleinfeld, Barron's says
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July 23, 2015
09:06 EDTAAAlcoa announces realignment of downstream portfolio
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09:02 EDTAAAlcoa completes acquisition of RTI International
Alcoa (AA) announced that it has completed the acquisition of RTI International Metals (RTI). The merger, announced on March 9, became effective today. Under the terms of the merger agreement, each share of RTI common stock has been converted into the right to receive 2.8315 shares of Alcoa common stock, plus an amount of cash in lieu of fractional shares of Alcoa common stock. Alcoa expects RTI to contribute $1.2 billion in revenue in 2019, up from $794 million that RTI generated in 2014, with 65 percent of revenues supported by contracts over the next five years. RTI’s profitability is expected to reach 25 percent EBITDA margin in 2019. Contracts that underpin RTI’s growth include the recently announced contract with Airbus for finished titanium structural supply parts for the new A350-1000 aircraft program. Under the agreement, Alcoa will supply titanium parts for the fuselage, among other components. Alcoa expects global aerospace sales growth of 8 to 9 percent in 2015. Projections for 2016 and 2017 sales growth have nearly doubled to 8 and 13 percent, from 4 to 5 percent and 6 percent, respectively, showing the ongoing strength of the sector. Eighty percent of RTI’s revenues in 2014 were from the aerospace and defense industries. With RTI, Alcoa’s 2014 pro forma aerospace revenue increases by 13 percent to $5.6 billion. RTI is being integrated as a standalone business unit into Alcoa’s downstream Engineered Products and Solutions segment.

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