Global Fastener News

STOCK REPORT: Alcoa Fastening Systems

Jason Sandefur

Alcoa Fastening Systems expanded its global aerospace fastener manufacturing capacity and capabilities by opening new facilities in Suzhou, China, and Acuna, Mexico, in 2007. AFS also secured new manufacturing capacity and capabilities in Hungary.
“These investments will result in a 12% increase in the manufacturing capacity of specialty fasteners for both airframe and engine applications by the end of 2009,” the company stated.
The boost in AFS capacity is part of a move by Alcoa to grow its aerospace business. The company also announced expanded capacity for its power and propulsion and extrusion businesses.
AFS contributes 25% of Alcoa’s $3.1 billion aerospace portfolio.
Alcoa’s Engineered Solutions segment, including AFS, reported an 8.4% gain in sales to $5.45 billion in 2006, while operating income for the year increased 63% to $331 million.
In December 2006 AFS president Olivier Jarrault, 45, was elected vice president of parent company Alcoa Inc. Jarrault joined Alcoa in 2002 as president of AFS shortly after Alcoa acquired Fairchild Fasteners. In 2005 AFS creates two new 50,000 square-foot manufacturing sites in China.
AFS operates a 10,000 sq ft commercial products distribution center in Indianapolis that serves the Midwestern markets for all AFS brands, including Huck, Recoil and Marson. The facility is located at 5436 W. 78th St., Indianapolis, IN, 46268. Tel: 800 732 3470
Alcoa entered the fastener industry with the 2000 acquisition of Cordant Technologies Inc., which included Huck. Huck had acquired fastener manufacturer Jacobson Mfg. Co. Inc. in 1998 and Chicago-based Continental/Midland Group in 1999. Alcoa acquired Fairchild Fasteners in 2002 for $655 million, and then combined the company with Huck International to form Alcoa Fastening Systems.
AFS manufactures at 19 locations in 9 countries, and operates 7 worldwide distribution/logistics centers.
AFS employs 6,600 people in two divisions: aerospace products and commercial products. The company is headquartered at 3000 W. Lomita Blvd., Torrance, CA 90505. Tel: 805 527-3600 Fax 805 991-1449 Web: alcoafasteners.com

Corporate Office: 201 Isabella St., Pittsburgh, PA 15212-5858. Tel: 412 553-4545 Fax 412 553-4498
Web: alcoa.com
NYSE Symbol: AA
CEO: Alain Belda, 63
Key fastener executives: Olivier Jarrault, president, AFS; Don Busby, president, commercial products; Richard Sharpe, AFS senior vice president for aerospace customers and marketing; Jim Doran, AFS regional sales manager
Founded: 1888
Employees: 122,000 \ �2007 FastenerNews.com