New Structure Strengthens Company’s Ability to Capture Robust Aerospace Demand, and Growth in Emerging Markets
Lightweight and high performance metals leader Alcoa (NYSE: AA) today
announced a realignment of its downstream segment as the Company’s
value-add portfolio expands. Alcoa’s downstream portfolio will become
two segments, one with a core focus on aerospace, and the other centered
on the construction and commercial wheels markets. The realignment
supports Alcoa’s transformation strategy to build its value-add
portfolio for greater profitability.
With Alcoa’s successful acquisition of RTI International Metals, Inc.
(NYSE: RTI) today, the recent acquisitions of Firth Rixson and TITAL,
and other innovation-led organic growth investments, the Company
continues to deepen its reach into the high-growth aerospace market. The
Engineered Products and Solutions (EPS) segment, led by Group President
Olivier Jarrault, has been streamlined to enable a core focus on Alcoa’s
position as a premier aerospace partner. The EPS group will comprise
business units that primarily cater to the aerospace market:
-
Alcoa Titanium & Engineered Products, the designation for the newly
acquired RTI business -
Alcoa Fastening Systems & Rings, and Alcoa Forgings & Extrusions, into
which the Firth Rixson business has been integrated, and - Alcoa Power & Propulsion, which now includes the TITAL business
Alcoa has formed a new business segment, Transportation and Construction
Solutions, incorporating the business units, Alcoa Wheel &
Transportation Products, and Alcoa Building & Construction Systems, both
formerly part of EPS. The new Group structure will drive successful
expansion into emerging regional markets, where both these business
units have significant opportunity, in addition to capturing continued
growth in existing markets. To build on the exciting growth prospects
for Alcoa in emerging markets, Jose Drummond, Latin American Regional
President, has been appointed to lead the group as President, Alcoa
Transportation and Construction Solutions. Drummond will also maintain
his Regional President role.
“These changes provide important leadership and organizational advances
in support of our transformation strategy,” said Alcoa Chairman and
Chief Executive Officer Klaus Kleinfeld. “As Alcoa builds out its
downstream portfolio, our growth prospects in the aerospace industry and
across emerging markets continue to widen. This realignment optimizes
our organizational structure and expands our leadership capabilities to
more rapidly capture profitable downstream growth.”
External reporting for Alcoa’s new Transportation and Construction
Solutions segment will begin in third quarter 2015.
Biography – Olivier
Jarrault
Biography – Jose
Drummond
About Alcoa
A global leader in lightweight metals technology, engineering and
manufacturing, Alcoa innovates multi-material solutions that advance our
world. Our technologies enhance transportation, from automotive and
commercial transport to air and space travel, and improve industrial and
consumer electronics products. We enable smart buildings, sustainable
food and beverage packaging, high-performance defense vehicles across
air, land and sea, deeper oil and gas drilling and more efficient power
generation. We pioneered the aluminum industry over 125 years ago, and
today, our more than 60,000 people in 30 countries deliver value-add
products made of titanium, nickel and aluminum, and produce
best-in-class bauxite, alumina and primary aluminum products. For more
information, visit www.alcoa.com,
follow @Alcoa on Twitter at www.twitter.com/Alcoa and
follow us on Facebook at www.facebook.com/Alcoa.
Alcoa
Investor Contact
Nahla Azmy, 212-836-2674
Nahla.Azmy@alcoa.com
or
Media Contact
Monica Orbe, 212-836-2632
Monica.Orbe@alcoa.com