Alcoa CEO: "We are #1 in fasteners."
FEATURE
Alcoa CEO: “We are #1 in fasteners.”
Alcoa reported Engineered Products revenue in the fourth quarter rose 12% to $1.4 billion. Segment ATOI grew 8% to $122 million from fourth quarter 2010 and down 12% from third quarter 2011.
Sequentially, decreased ATOI was mainly driven by cost increases and unfavorable product mix, partially offset by productivity improvements.
Full-year Engineered Products revenue increased 16.6% to $5.34 billion, with segment ATOI climbing 30% to $539 million.
The results were reinforced by CEO Klaus Kleinfeld in a conference call to journalists.
“We continue to drive innovation and acquisitions as the major driver for our downstream profitable growth,” Kleinfeld stated. “On the innovation side, I really almost don’t know where to start. We are #1 in fasteners. 90% of the fasteners are specialty fastener, 55% are patented.”
Alcoa reported Engineered Products revenue in the fourth quarter rose, while segment ATOI grew.
The results were reinforced by CEO Klaus Kleinfeld in a conference call to journalists.
“We continue to drive innovation and acquisitions as the major driver for our downstream profitable growth,” Kleinfeld stated. “On the innovation side, I really almost don’t know where to start. We are #1 in fasteners. 90% of the fasteners are specialty fastener, 55% are patented.” ©2012 GlobalFastenerNews.com
For more of Kleinfeld’s comments, along with detailed coverage of Alcoa Fastening Systems’ results for the year, click here.
Related Stories:
• Nucor Fastener To Press for Full ITC Investigation
• Huck Fasteners Part of Reducing Bus Frame Weight by 40%
• 2011 FIN Fastener Stock Index Rises
• Atlantic Fasteners Names New Staff Additions
• Report: Analysts Expect Strong Sales By Precision Castparts
• Reshoring Initiative Founder Speaking to MWFA
There are no comments at the moment, do you want to add one?
Write a comment