Alcoa ‘managing for cash,’ flexibility, finance chief says
Nov 08, 2012 | 12:34 PM
| Andrea Hotter
Tags
Alcoa,
Chuck McLane,
aluminum,
Andrea Hotter
NEW YORK — Alcoa Inc. is committed to its investment-grade rating and entered 2012 "managing for cash," the aluminum producer’s executive vice president and chief financial officer said.
Chuck McLane told investors at a New York briefing that Alcoa’s cash sustainability program has helped the company achieve a net debt reduction of 30 percent since 2008.
Net debt fell to $7.43 billion last year from $9.82 billion in 2008, he said. ....
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