Economic
In Canada, Alcoa employs more than 3,900 people at 12 facilities and plants, including the five belonging to Alcoa Canada Global Primary Products. Activities range from primary aluminum production to the transportation and aeronautics sectors, and architectural systems.
We understand the importance of the economic value we generate for our customers, shareholders, employees, and the communities in which we operate. These stakeholders are impacted by, among other things, our capital investments, purchases of goods and services, taxes and income taxes, wages and various community investments.
Disciplined financial management is essential to ensuring our long-term success and that of our stakeholders. We maintain robust financial controls and have adopted a sound financial structure driven by strategic investments and cost-reduction initiatives.
Signs of renewal
While 2009 ended on an uncertain note, 2010 will be remembered as a year of transition. The price of aluminum recovered some of its vigor, although it did not reach the same heights as in 2008, after which the economic crisis battered our sector.
Fierce global competition in labor costs, the strength of the Canadian dollar and the eventual increase (in 2015) of our energy costs are some of the “headwinds” facing Alcoa Canada Global Primary Products. The efforts of our people to distinguish themselves from the competition, to innovate and produce aluminum more efficiently and economically continued to generate results in 2010. This is also how we are helping ensure that the future of aluminum in Québec remains as strong as elsewhere in the world, where demand rose by 13% in 2010. This demand is expected to leap forward another 12% in 2011, namely due to policies aimed at increasing vehicle energy efficiency.
