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Alcoa Inc (AA)

AA on New York Consolidated

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24 Aug 2016
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Latest Key Developments (Source: Significant Developments)

Alcoa wins fourth boeing contract in string of recent deals
Thursday, 28 Jan 2016 08:00am EST 

Alcoa Inc:Announced a long-term supply agreement with Boeing for multi-material aerospace parts.Says Alcoa has secured approximately $10 billion in aerospace contracts in the last 12 months.To supply components for 777x_boeing's newest commercial airplane 737 max scheduled for first delivery in 2017 and the 787 dreamliner.Alcoa forgings and extrusions will supply differentiated components for boeing's airplanes, including the wing, fuselage, and landing gear.Deal draws on capabilities gained through firth rixson acquisition and co's new aluminum-lithium facility in lafayette, Indiana.  Full Article

Alcoa Inc says long-term contract with GE aviation
Monday, 11 Jan 2016 07:00am EST 

Alcoa Inc:Announces long-term contract with GE aviation.Says agreement valued at more than $1.5 billion over the contract life.Alcoa will supply advanced nickel-based superalloy, titanium and aluminum components for a broad range of GE aviation engine programs.Alcoa's aerospace businesses will form part of new value-add company, to be launched following alcoa's previous separation in H2 of 2016.  Full Article

Alcoa to close Warrick Smelter and Curtail Remaining Capacity at Pt. Comfort Refinery
Thursday, 7 Jan 2016 04:15pm EST 

Alcoa Inc:Announced it is taking further action to increase the competitiveness of its Upstream business amid prevailing market conditions.Alcoa will permanently close its 269,000 metric ton Warrick Operations smelter in Evansville, Indiana by the end of the first quarter 2016.Rolling mill and power plant at Warrick Operations will continue to operate.By the end of the second quarter 2016, the Company will reduce alumina production by one million metric tons, which includes curtailing the remaining 810,000 metric tons of refining capacity at its Point Comfort operations in Texas.  Full Article

Alcoa Inc - Three people missing, 100 homes destroyed by Western Australia bushfire - Reuters
Thursday, 7 Jan 2016 06:58am EST 

Alcoa Inc:An major bushfire in western Australia destroyed nearly 100 homes and left three people unaccounted for as it tore through a small rural town south of Perth, emergency officials said on Friday - RTRS.I believe we've had what I would suggest are catastrophic losses within Yarloop," said Wayne Gregson, Western Australian Fire and Emergency Services Commissioner. - RTRS.The bushfire, which had already razed 53,000 hectares (130,965 acres) of land this week, ripped through Yarloop on Thursday night, population just 545, fanned by blustery hot winds. - RTRS.Around 95 homes were destroyed, along with the post office, shops and the town's fire station, said local media. - RTRS.Alcoa Inc AA.N said two of its buildings have been destroyed but its Western Australia alumina refining operations have not been affected by the fire. - RTRS.  Full Article

Alcoa Inc approves dividend on mandatory convertible preferred stock
Friday, 20 Nov 2015 01:52pm EST 

Alcoa Inc:Declares dividend of $6.71875 per share on outstanding 5.375% Class B Mandatory Convertible Preferred Stock.Payable on Jan. 1, 2016 to shareholders of record of the Class B Stock at the close of business on Dec. 15.Dividend on the Class B Stock is equivalent to a dividend of $0.671875 per Depositary Share.  Full Article

Alcoa Inc secures Titanium contract with Lockheed Martin for F-35 joint strike fighter
Wednesday, 7 Oct 2015 09:29am EDT 

Alcoa Inc:Wins titanium contract with Lockheed Martin for f-35 joint strike fighter.Contract has an estimated value of approximately $1.1 billion at current projected build rates.Says contract has an estimated value of approximately $1.1 billion at current projected build rates.Says becomes the titanium supplier for airframe structures for all three variants of the f-35 over nine years, from 2016 to 2024.Says Alcoa will supply titanium plate and billet from several operations gained through the rti international metals acquisition.Says contract to supply titanium for Lockheed martin's f-35 lightning II aircraft program.  Full Article

Alcoa Inc signs contract with Airbus for high-tech, multi-material fastening systems
Monday, 5 Oct 2015 08:30am EDT 

Alcoa Inc:Signs contract with Airbus for high-tech, multi-material fastening systems.Says signed an approximately $1 billion contract with Airbus for high-tech, multi-material aerospace fastening systems.Says Alcoa will supply primarily titanium, steel and nickel-based superalloy fastening systems for every Airbus platform.Says Airbus will use alcoa's fastening systems for longer-running platforms including the a330.Says alcoa's fasteners will be used to assemble airbus's a350 xwb and a320neo.  Full Article

Alcoa Inc to Separate into Two Public Companies, Completing Multi-Year Transformation
Monday, 28 Sep 2015 06:30am EDT 

Alcoa Inc:To separate into two industry-leading public companies, completing successful multi-year transformation.Says Alcoa shareholders will own all of the outstanding shares of both the upstream and value-add companies.Says each company will have its own independent board of directors that will include members of the current Alcoa board.Says the separation is intended to qualify as a tax-free transaction to Alcoa shareholders for U.S. federal income tax purposes.Full management teams and boards for both cos will be named in months leading up to launch of two companies in second half of 2016.Says Morgan Stanley and greenhill & co. are serving as financial advisors to Alcoa.Says the value-add company will be named prior to closing.Value-add company will include global rolled products, engineered products and solutions, transportation and construction solutions.Value-add company will include global rolled products, engineered products and solutions, and transportation and construction solutions.Alcoa is currently targeting to complete the separation in the second half of 2016.Says the value-add company targeting an investment grade rating and the upstream company a strong non-investment grade rating.Rpt-alcoa to separate into two industry-leading public companies, completing successful multi-year transformation.  Full Article

Alcoa board approves quarterly dividends
Friday, 25 Sep 2015 11:54am EDT 

Alcoa Inc:Declares a quarterly common stock dividend of 3 cents per share.Payable Nov. 25 to holders of record of the common stock at the close of business on Nov. 6.Declares a dividend of 93.75 cents per share on Alcoa's $3.75 cumulative preferred stock.Payable January 1, 2016 to holders of record of the Class A Stock at the close of business on December 11, 2015.  Full Article

Alcoa completes automotive expansion in tennessee
Thursday, 24 Sep 2015 09:00am EDT 

Alcoa Inc:$300 million project in Tennessee began customer shipments earlier this month.Alcoa and danieli group announced they have entered into a letter of intent to work toward an agreement to sell micromill equipment.  Full Article

BRIEF-Alcoa appoints Kate Ramundo future Arconic chief legal officer

* Alcoa names Kate Hargrove Ramundo future Arconic chief legal officer Source text for Eikon: Further company coverage: