New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
May 22, 2014
07:50 EDTAAAlcoa CEO says improving cost position amid historic shift, CNBC reports
Alcoa CEO Klaus Kleinfeld told CNBC in an interview that the metals industry is experiencing its biggest transformation in 125 years and that the company no longer has to focus on metals markets fluctuations as demand for lighter aluminum alloys has gone "mainstream." Kleinfeld added the company could now be profitable "no matter where the metal price is" as a result of its cost-cutting, the report noted. Reference Link
News For AA From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
July 26, 2015
15:35 EDTAAAlcoa looks 'far more promising' under CEO Kleinfeld, Barron's says
Subscribe for More Information
July 23, 2015
09:06 EDTAAAlcoa announces realignment of downstream portfolio
Subscribe for More Information
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. RTIís profitability is expected to reach 25 percent EBITDA margin in 2019. Contracts that underpin RTIís 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 RTIís revenues in 2014 were from the aerospace and defense industries. With RTI, Alcoaís 2014 pro forma aerospace revenue increases by 13 percent to $5.6 billion. RTI is being integrated as a standalone business unit into Alcoaís downstream Engineered Products and Solutions segment.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use