Company Also Wins Aluminum Industry Leadership
Award
Global lightweight, high-performance metals leader Alcoa
(NYSE:AA) was presented with two top awards at the Platts 2015
Global Metals Awards ceremony held last night in London.
Platts named Alcoa Metals Company of the Year, the publication’s
highest award, for all-around excellence in executing a metals
strategy. The Company also received the Aluminum Industry
Leadership Award for taking decisive action resulting in
substantial transformation in the industry and for demonstrating
leadership, innovation and financial success. Alcoa has been
undergoing a significant transformation, building its value-add
portfolio of multi-material, innovation-rich businesses, and
creating a globally competitive commodity business.
“By transforming Alcoa, we’re increasing profitable growth in
our value-add portfolio, and better controlling our own destiny in
the commodity business,” said Alcoa Chairman and CEO Klaus
Kleinfeld. “This transformation strategy, combined with the talent
and energy of our 59,000 Alcoans, is helping to build an even
stronger future for our Company and delivering value to our
shareholders.”
In its value-add business, Alcoa has been growing organically
both through innovation and investments, and inorganically. As
examples, over the past year, the Company:
- Introduced breakthrough Micromill™
technology, which enables production of an automotive alloy that is
40 percent more formable and 30 percent stronger than incumbent
aluminum;
- Unveiled new foundry alloys that offer
at least 20 percent better fatigue resistance, strong corrosion
resistance, superior strength and new lightweight solutions for
many applications across the automotive industry;
- Innovated the first ever
aluminum-lithium forging for a front fan blade of a jet engine,
providing a lighter, more cost effective solution to traditionally
used titanium or carbon fiber;
- Opened the world’s largest
aluminum-lithium facility in Lafayette, Indiana, and launched
expansions to increase jet engine parts production in La Porte,
Indiana and Hampton, Virginia;
- Acquired Firth Rixson and TITAL,
broadening Alcoa’s aerospace portfolio, doubling the Company’s
content on jet engines; and
- Announced it would purchase RTI
International Metals, Inc. (NYSE:RTI), a global supplier of
titanium and specialty metal products and services for the
commercial aerospace market, as well as defense, energy and medical
devices.
In the upstream business, Alcoa continues to take swift action
to remove high-cost global capacity from its system to reduce
costs. As a result, the Company’s position on the alumina cost
curve improved to the 25th percentile in 2014 from the 30th
percentile in 2010. On the aluminum cost curve, Alcoa is on the
43rd percentile down from 51st percentile in 2010. Alcoa aims to
lower its position on the aluminum cost curve to the 38th
percentile, and the alumina cost curve to the 21st percentile, by
2016.
About the Platts Global Metals AwardsThe Platts Global
Metals Awards is a competitive awards program honoring excellence
and accomplishments in the global metals industry. Award winners
are chosen from a list of finalists in several categories, and are
recognized as those in the metals industry who introduce new
paradigms and embody excellence in leadership, innovation, safety,
integrity and overall performance. Visit http://gma.platts.com/Home
for more information or to view photos from the event.
About AlcoaA global leader in lightweight metals
technology, engineering and manufacturing, Alcoa innovates
multi-material solutions that advance our world. Our technologies
enhance transportation, from automotive and commercial transport to
air and space travel, and improve industrial and consumer
electronics products. We enable smart buildings, sustainable food
and beverage packaging, high-performance defense vehicles across
air, land and sea, deeper oil and gas drilling and more efficient
power generation. We pioneered the aluminum industry over 125 years
ago, and today, our approximately 59,000 people in 30 countries
deliver value-add products made of titanium, nickel and
aluminum, and produce best-in-class bauxite, alumina and primary
aluminum products.
Forward-Looking StatementsThis release contains
statements that relate to future events and expectations and as
such constitute forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include those containing such words as
“aims,” “estimates,” “expects,” “goal,” “plans,” “should,” “will,”
“would,” or other words of similar meaning. All statements that
reflect Alcoa’s expectations, assumptions or projections about the
future other than statements of historical fact are forward-looking
statements, including, without limitation, statements about Alcoa’s
strategies, outlook, business and financial prospects, and targeted
financial results or operating performance; and statements
regarding the acceleration of Alcoa’s portfolio transformation,
including the expected benefits of acquisitions, including the
completed acquisition of the Firth Rixson business and TITAL, and
the pending acquisition of RTI International Metals, Inc. (RTI).
Forward-looking statements are subject to a number of risks,
uncertainties, and other factors and are not guarantees of future
performance. Important factors that could cause actual results to
differ materially from those expressed or implied in the
forward-looking statements include: (a) material adverse
changes in aluminum industry conditions; (b) deterioration in
global economic and financial market conditions generally;
(c) unfavorable changes in the markets served by Alcoa,
including aerospace, automotive, commercial transportation,
building and construction, packaging, and industrial gas turbine;
(d) Alcoa’s inability to achieve the level of revenue growth, cash
generation, cost savings, improvement in profitability and margins,
fiscal discipline, or strengthening of competitiveness and
operations (including moving its alumina refining and aluminum
smelting businesses down on the industry cost curves and increasing
revenues and improving margins in its Global Rolled Products and
Engineered Products and Solutions segments) anticipated from its
restructuring programs and productivity improvement, cash
sustainability, technology, and other initiatives; (e) Alcoa’s
inability to realize expected benefits, in each case as planned and
by targeted completion dates, from acquisitions, sales of assets,
closures or curtailments of facilities, newly constructed or
expanded facilities, or international joint ventures;
(f) failure to complete the RTI acquisition; (g) the risk
that acquisitions (including Firth Rixson, TITAL and RTI) will not
be integrated successfully or such integration may be more
difficult, time-consuming or costly than expected; (h) failure
to successfully implement, to achieve commercialization of, or to
realize expected benefits from, new or innovative technologies,
equipment, processes, or products, including the MicromillTM
technology, advanced aluminum alloys and aluminum-lithium forgings;
and (i) the other risk factors summarized in Alcoa’s Form 10-K
for the year ended December 31, 2014, and other reports filed
with the Securities and Exchange Commission. Alcoa disclaims any
obligation to update publicly any forward-looking statements,
whether in response to new information, future events or otherwise,
except as required by applicable law.
Additional Information and Where to Find ItThis release
does not constitute an offer to sell or the solicitation of an
offer to buy any securities or a solicitation of any vote or
approval nor shall there be any sale of securities in any
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. The proposed business
combination transaction between Alcoa and RTI will be submitted to
the shareholders of RTI for their consideration. Alcoa has filed
with the Securities and Exchange Commission (SEC) a Registration
Statement on Form S-4 (Registration No. 333-203275) containing
a preliminary proxy statement of RTI that also constitutes a
prospectus of Alcoa. These materials are not yet final and will be
amended. RTI will provide the proxy statement/prospectus to its
shareholders after the registration statement has become effective.
Alcoa and RTI also plan to file other documents with the SEC
regarding the proposed transaction. This document is not a
substitute for any prospectus, proxy statement or any other
document which Alcoa or RTI may file with the SEC in connection
with the proposed transaction. INVESTORS AND SECURITY HOLDERS OF
RTI ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS AND ANY OTHER
RELEVANT DOCUMENTS THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN
THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN
IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. You may
obtain copies of all documents filed with the SEC regarding this
transaction, free of charge, at the SEC’s website (www.sec.gov). You may also obtain these documents,
free of charge, from Alcoa’s website (www.alcoa.com). You may also obtain these
documents, free of charge, from RTI’s website (www.rtiintl.com).
Participants in the SolicitationAlcoa, RTI, and certain
of their respective directors, executive officers and other members
of management and employees may be deemed to be participants in the
solicitation of proxies from RTI shareholders in connection with
the proposed transaction. Information regarding the persons who
may, under the rules of the SEC, be deemed participants in the
solicitation of RTI shareholders in connection with the proposed
transaction is set forth in the proxy statement/prospectus. You can
find information about Alcoa’s executive officers and directors in
its definitive proxy statement filed with the SEC on March 19,
2015, its Annual Report on Form 10-K filed with the SEC on
February 19, 2015 and in the above-referenced Registration
Statement on Form S-4. You can find information about RTI’s
executive officers and directors in the proxy statement/prospectus
and in RTI’s Annual Report on Form 10-K filed with the SEC on
February 26, 2015. You can obtain free copies of these
documents from Alcoa and RTI as described in the preceding
paragraph.
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version on businesswire.com: http://www.businesswire.com/news/home/20150522005110/en/
AlcoaInvestor ContactNahla Azmy,
212-836-2674Nahla.Azmy@alcoa.comorMedia ContactMonica Orbe,
212-836-2632Monica.Orbe@alcoa.com
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