Alcoa drops truck, trailer outlook, lifts auto
Jul 10, 2012 | 03:35 PM
| Suzy Waite
Tags
Alcoa,
Klaus Kleinfeld,
trucks and trailers,
auto outlook,
aerospace backlog,
Suzy Waite
NEW YORK — Alcoa Inc. has lowered its growth forecast for the heavy truck and trailer industry but boosted its expectations for the automotive market.
The Pittsburgh-based producer dropped its 2012 North America truck and trailer growth forecast to a range of 4 to 8 percent from the 7- to 12-percent growth it had predicted in the first quarter.
"Heavy truck and trailer is a mixed picture. (It’s) down compared to the view we had in the first quarter. North America is really driving it," chairman and chief executive officer Klaus Kleinfeld said during a conference call after announcing a $2-million net loss in the second quarter (AMM, July 10). "We believe heavy truck production will slow down in the second half of year and this will get production in line again with lower orders." ....
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