Company Overview

Formerly known as the Aluminum Company of America, Alcoa mines, refines, smelts, fabricates, and eventually recycles aluminum and related products. In addition to aluminum and aluminum products, Alcoa makes vinyl siding, packaging machinery, precision castings, closures, fiber optic cables, electrical distribution systems for cars and trucks, and consumer products such as Reynold’s plastic wrap and aluminum foil. Alcoa operates in some 43 countries worldwide and has its sights set on growth in global markets including South America, Europe, Russia, and most of Asia, including China—the fastest growing aluminum market in the world. In 2004 Alcoa formed a strategic alliance with Aluminum Corporation of China (Chalco) and in 2005 purchased two fabrication facilities in Russia for $250 million. The company also plans to expand aluminum production to developing countries such as Jamaica and Brazil. Faced with lower prices in several of its markets, in 2004 Alcoa divested underperforming businesses and cut its workforce by 6 percent. And while the company has announced plans to cut additional jobs, it’s concentrating on its core businesses and expanding into developing territories, and it remains committed to continued growth around the world. It’s also committed to addressing climate change, and has been recognized for setting a positive example as a leading global company preparing to face the challenges of global warming.

In recent years, lcoa has been selling divisions of its company.  In 2006 the company sold its Home Exteriors unit to Ply Gem Industries; it also sold its aerospace service business to ThyssenKrupp. In 2008 it got rid of its packaging and consumer businesses, which included closure systems, Reynolds Wrap, and Reynolds Food Packaging.