Alcoa ‘not standing still’ despite 3d-qtr. loss

Oct 10, 2012 | 03:32 PM | Suzy Waite

Tags  Alcoa, Klaus Kleinfeld, London Metal Exchange, Davenport, aluminum, aerospace, automotive, truck and trailer third quarter earnings


NEW YORK — Despite such headwinds as the low price of aluminum on the London Metal Exchange, Alcoa Inc. remains largely in control of its own future as it continues to move further down the cost curve, according to company chairman and chief executive officer Klaus Kleinfeld.

"We are controlling our own destiny and we are not standing still," Kleinfeld said Tuesday following the release of the Pittsburgh-based company’s third-quarter earnings (amm.com, Oct. 9).

Alcoa blamed its 9-percent year-over-year drop in third-quarter revenue largely on a 17-percent decline in the LME price of aluminum. ....





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