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Key Developments: Alcoa Inc (AA)

AA on New York Consolidated

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29 Apr 2016
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Latest Key Developments (Source: Significant Developments)

Alcoa Inc's board approves quarterly dividends
Thursday, 30 Apr 2015 11:08pm EDT 

Alcoa Inc:Declared quarterly common stock dividend of 3 cents per share payable May 25, to holders of record of common stock at close of business on May 11.Dividend of 93.75 cents per share on Alcoa's $3.75 cumulative preferred stock (Class A Stock) payable July 1, holders of record of class A stock at close of business on June 12.And dividend of $6.71875 per share on Alcoa's 5.375 pct. class B mandatory convertible preferred stock (class B stock) payable July 1, to holders of record of class B stock at close of business on June 15.Dividend on class B stock is equivalent to a dividend of $0.671875 per depositary share.  Full Article

Alcoa Inc to acquire RTI International Metals Inc
Monday, 9 Mar 2015 06:59am EDT 

Alcoa Inc:Signs a definitive agreement to acquire RTI International Metals, Inc.Says it will purchase RTI in a stock-for-stock transaction with an enterprise value of $1.5 bln.Says RTI shareholders will receive 2.8315 Alcoa shares for each RTI share.Says transaction, which has been approved by the Boards of both companies.Says Alcoa and RTI expect to obtain all required regulatory clearances and RTI shareholder approval in order to close the transaction in three to six months.Greenhill & Co. and Morgan Stanley are acting as financial advisors to Alcoa, and Wachtell, Lipton, Rosen & Katz is serving as legal counsel.Barclays is acting as the sole financial advisor to RTI, and Jones Day is serving as legal counsel.  Full Article

Thousands of Alcoa jobs at risk in WA - AAP
Monday, 9 Mar 2015 01:28am EDT 

Alcoa Inc:Thousands of Alcoa workers in Western Australia face an uncertain future as the company conducts a major review of its smelting and refining operations - AAP.The company is reviewing its global smelting and refining capacity over the next 12 months as it looks to cut costs, divest assets, reduce plant sizes or shut them.Alcoa's Kwinana refinery, south of Perth, is now in the spotlight as it is the company's least profitable and oldest processing operation in WA, employing more than 1,000 people.The review follows the closure of Alcoa's Point Henry aluminium smelter at Geelong in 2014 after the company decided it had no prospect of becoming financially viable.Around 5,000 people are employed at Alcoa's Australian operations, with the company's alumina production in WA accounting for more than 10 pct of total world demand.About 4,000 people work at Alcoa operations in WA, including three alumina refineries at Kwinana, Pinjarra and Wagerup and the Huntly and Willowdale bauxite mines south of Perth.  Full Article

Alcoa completes acquisition of TITAL
Tuesday, 3 Mar 2015 05:00am EST 

Alcoa Inc:Announced that it has completed the acquisition of privately held TITAL.Alcoa closed the transaction, which was announced on Dec. 15, after receiving all of the required global regulatory approvals.  Full Article

Alcoa opens expanded wheels manufacturing plant in Hungary
Friday, 30 Jan 2015 04:00am EST 

Alcoa Inc:Opened expanded wheels manufacturing plant in Hungary.Says doubles capacity to produce dura-bright((reg))EVO surface-treated wheels compared to 2014 production levels.  Full Article

Alcoa approves quarterly dividends
Monday, 19 Jan 2015 02:16pm EST 

Alcoa:Declares quarterly common stock dividend of 3 cents per share payable Feb. 25 to holders of record of the common stock at the close of business on Feb. 6.Dividend of 93.75 cents per share on Alcoa's $3.75 cumulative preferred stock (Class A Stock) payable April 1 to holders of record of the Class A Stock at the close of business on March 13.Dividend of $6.71875 per share on Alcoa's 5.375pct Class B Mandatory Convertible Preferred Stock (Class B Stock) payable April 1 to holders of record of the Class B Stock at the close of business on March 15.  Full Article

Alcoa to acquire TITAL to expand global growth platform for Titanium Aerospace Components
Monday, 15 Dec 2014 04:30am EST 

Alcoa Inc:Plans to further expand its global aerospace business through a definitive agreement to acquire privately held TITAL.Acquisition will strengthen Alcoa's global position to capture increasing demand for advanced jet engine components made of titanium.Financial details of the transaction were not disclosed.  Full Article

Alcoa approves dividend on mandatory convertible preferred stock
Wednesday, 3 Dec 2014 12:04pm EST 

Alcoa Inc:Declares dividend of $7.53993 per share on the outstanding 5.375 pct Class B Mandatory Convertible Preferred Stock Series 1.Payable on Jan. 1, 2015.To shareholders of record of the mandatory convertible preferred stock at the close of business on Dec. 15.  Full Article

Alcoa completes sales of two upstream assets
Monday, 1 Dec 2014 04:03pm EST 

Alcoa Inc:Completes two previously-announced sales within its Global Primary Products portfolio.The divestitures, one in the United States and the second in Jamaica, are aligned with Alcoa's strategy to lower its cost base and create globally competitive business.Alcoa World Alumina and Chemicals (AWAC) finalized the sale of its 55 pct ownership stake in Jamalco bauxite mining and alumina refinery joint venture to Noble Group Ltd.Company completed the sale, announced on Oct.15, after receiving all regulatory approvals.Says Jamalco is located in Clarendon, Jamaica.Alcoa also finalized the sale of its 50.3 percent interest in the Mt. Holly aluminum smelter in Goose Creek, South Carolina, to Century Aluminum Company.The smelter has the capacity to produce 229,000 metric tons of aluminum annually.Alcoa announced its plan to sell its stake to Century on Oct. 23.  Full Article

Alumina Limited and Alcoa Inc announces completion of sale of AWAC’s stake in Jamalco Refinery
Sunday, 30 Nov 2014 06:15pm EST 

Alumina Limited and Alcoa Inc:Says that Alcoa World Alumina LLC(AWA) has completed the sale of its 55 per cent interest in the Jamalco alumina refinery in Jamaica, to Noble Group Limited (Noble) for a cash consideration of $140 million.Says AWA will provide compensated management services to Jamalco for a period of three years from closing.AWAC (which includes AWA) is a joint venture between Alumina Limited and Alcoa Inc.AWAC is 60 pct. owned and managed by Alcoa Inc and 40 pct. owned by Alumina Limited.  Full Article

BRIEF-Alcoa Inc says separation of companies targeted in second half of 2016

* north american packaging market has become increasingly commoditized

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