Alcoa ‘not standing still’ despite 3d-qtr. loss
Oct 10, 2012 | 03:32 PM
| Suzy Waite
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 companys 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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