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Alcoa Corp (NYSE: AA) is a global leader in aluminum production, spanning bauxite mining, alumina refining, and primary metal manufacturing. This page serves as a comprehensive resource for tracking the company’s official announcements, strategic initiatives, and market developments.
Investors and industry stakeholders will find timely updates on earnings reports, operational milestones, sustainability efforts, and leadership changes. Our curated collection ensures access to Alcoa’s press releases and verified news articles, providing clarity on factors influencing the aluminum sector and AA’s position within it.
Key focuses include production innovations, commodity market trends, and Alcoa’s initiatives in energy efficiency and circular manufacturing. Bookmark this page to stay informed on critical developments affecting one of the industry’s most vertically integrated producers.
Alcoa Corporation has suspended its plans to curtail operations at the San Ciprián aluminum smelter in Spain, pending a review of a court ruling that deemed a collective dismissal process null and void. The ruling, issued on December 17, 2020, means Alcoa will avoid incurring estimated charges of $35 million to $40 million related to employee layoffs. However, a labor strike continues to affect operations, with an anticipated negative impact on income before taxes of about $10 million in Q4 2020. The company acknowledges that restructuring is still necessary due to ongoing structural issues.
Alcoa Corporation has announced that its Fjarðaál smelter in Iceland, Lista smelter in Norway, and San Ciprián refinery in Spain have achieved certifications from the Aluminium Stewardship Initiative (ASI). With these additions, Alcoa now holds Performance Standard certifications for 13 sites, including various bauxite mines, alumina refineries, and aluminum smelters. The ASI certifications reinforce Alcoa's commitment to sustainable manufacturing practices and enable the marketing of certified products.
Alcoa Corporation announced that its Fjarðaál smelter in Iceland, Lista smelter in Norway, and San Ciprián refinery in Spain earned certifications from the Aluminium Stewardship Initiative (ASI). This brings Alcoa's total certified sites to 13, including various bauxite mines, alumina refineries, and aluminum smelters. ASI's certification validates responsible aluminum production and sourcing practices. Alcoa emphasizes its commitment to sustainable operations and the strategic importance of environmental and social responsibility in its business model.
Alcoa Corporation has agreed to sell its rolling mill business at Warrick Operations to Kaiser Aluminum Corporation for approximately $670 million, comprising $587 million in cash and $83 million in liabilities. The sale is part of Alcoa's strategy to divest non-core assets and generate between $500 million and $1 billion in cash. Post-sale, Alcoa anticipates annual revenue declines of $800 million and net income drops of $45 million to $55 million. The transaction is expected to close by the end of Q1 2021.
Alcoa Corporation has announced that CFO William F. Oplinger will participate in a Q&A session at the Bank of America 2020 Leveraged Finance Virtual Conference on December 1, 2020, at 10:30 a.m. EST. Investors can access the live audio webcast via Alcoa’s website, starting from 8:00 a.m. for a related slide presentation. An audio replay will also be available afterward. Alcoa, a leader in aluminum products, emphasizes its commitment to financial transparency and operational excellence.
Alcoa Corporation announced that CFO William F. Oplinger will participate in a Q&A session at the virtual Goldman Sachs Global Metals & Mining Conference on November 19, 2020, at 9:00 a.m. EST. The session will be accessible via a live audio webcast on Alcoa's website, with a slide presentation available starting at 7:00 a.m. EST on the same day. An audio replay will be offered after the session. Alcoa is a leader in bauxite, alumina, and aluminum products, with a legacy of innovation and operational excellence.
Alcoa Corporation (NYSE: AA) reported its third quarter 2020 results, highlighting improved alumina and aluminum pricing, generating $158 million in cash from operations and $84 million in free cash flow. The cash balance grew to $1.74 billion aided by a $750 million debt issuance. Although the company showed a net loss of $49 million, it marked an improvement from $197 million in Q2 2020. The company expects a total of $900 million in cash savings in 2020, while also planning for curtailments and production adjustments due to operational changes and market conditions.
Alcoa (NYSE:AA) is set to curtail operations at its San Ciprián aluminum smelter in Spain, impacting around 530 employees. This decision follows extensive consultations and reflects the smelter's uncompetitive position due to factors like high energy costs and global aluminum overcapacity. The curtailment will be completed by Q1 2021, with ongoing operations for about 100 employees in the casthouse. Alcoa anticipates restructuring charges of $35 million to $40 million in Q4 2020. Year-to-date losses at the plant total approximately $45 million, contributing to a cumulative loss of $126 million in 2018 and 2019.
Alcoa's consultation process regarding the San Ciprián aluminum plant in Spain concluded on September 28, 2020, without an agreement with workers. The company has 15 days to decide on the plant's future, which has a capacity of 228,000 metric tons annually. Alcoa had previously explored a potential sale to GFG Alliance but negotiations failed. Due to ongoing financial losses at the aluminum plant, a reorganization plan was initiated in June 2020, recommending curtailment while maintaining part of the facility's operations.
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