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message from alan cransberg, managing director, alcoa of australia
Alcoa Inc released the company’s global second quarter results last week showing a loss from continuing operations of US$312 million. While the results are not where we’d like them to be in an ideal world, they are a US$168 million improvement compared with the first quarter. This shows that the business’ global plan - that includes wide-ranging financial and operational initiatives to reduce costs, increase cash, and strengthen our balance sheet - is working. But the challenges for us here in Australia are far from over - the strengthening Aussie dollar is having an unfavourable impact on our results and we need to keep focusing on conserving cash wherever possible. We will continue to aggressively manage the business to ensure our long-term sustainability.
The issue of domestic gas supply has been highlighted in the past month with much media focus around the Gorgon LNG project in WA. As a big industry player, energy security is naturally a top priority and a challenge for Alcoa. We're of the view that a strong domestic gas industry based on competitive selling and diversity of supply is critical to meet WA’s industry and domestic needs, and to stimulate economic growth, jobs and investment. And we believe this can be achieved alongside a vibrant LNG industry. We’ll keep talking with Governments, and other stakeholders, to ensure WA’s energy challenges are well understood.
Finally, some fantastic news - one of the world’s most prestigious international engineering accolades has been awarded to Alcoa employee, Vince Dooley. Vince works with our R&D team, which services Alcoa globally. His inventions have become industry best practice, and seen efficiency benefits in every Alcoa refinery around the world. Congratulations Vince. Read more
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part of our everyday lives
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transport & building industries benefit from aluminium
Light weight aluminium parts and windows are improving energy effic-
iency in cars and new construction.
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our business
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curtailment complete & tours peak
The Portland Aluminium curtailment has been comple-
ted, while the community flocks to Alcoa for an up-close look at our business.
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part of the solution
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combating climate change
Our 'Ten Million Trees' program which aims to plant that many new trees by 2020 has been boosted – thanks to our annual Tree Planting Week-
end and
Employee Day of Trees.
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partnering stronger communities
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enriching communities in wa & victoria
United Way, the Wagerup Sustainability Fund and the Clontarf Fou-
ndation build community capacity in partnership with Alcoa.
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our people
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awards, knowledge sharing & health awareness
A worldwide accolade for Alcoa technol-
ogy, sharing our rehab exp-
erience, and building awar-
eness about men’s health in Portland.
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To find out how Alcoa is managing through the economic downturn, visit: www.alcoa.com.au/economicdownturn
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