Alcoa Engineered Solutions Sales See Steady Growth
Alcoa Engineered Solutions Sales See Steady Growth
Jason Sandefur
Alcoa Inc. reported Engineered Solutions segment sales, including fasteners, increased 8.3% to $1.34 billion during the third quarter of 2006, while segment operating income rose 121% to $75 million.
Nine-month sales at Engineered Solutions climbed 9.3% to $4.11 billion, despite a declining domestic auto industry. Operating income from engineered solutions products soared 65% to $258 million.
“While the North American automotive and the housing construction markets are softening, most of our downstream markets continue to be strong, especially aerospace and commercial transportation,” stated CEO Alain Belda added.
Overall Q3 revenue gained 19% to $7.6 billion, while income jumped 89% to $540 million.
In the first nine months of 2006, Alcoa generated more profit than in any full year in the company”s history. Income from continuing operations rose 82% to $1.9 billion on an 18% gain in revenue to $22.54 billion. Web: alcoa.com �2006 FastenerNews.com
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