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Alcoa Receives $12.5 Million Contract to Continue Development of Lightweight Military Ground Vehicles
PITTSBURGH--(BUSINESS WIRE)--Dec. 14, 2005--Alcoa (NYSE:AA) announced today that the U.S. Army Tank-Automotive and Armaments Command has awarded Alcoa a $12.5 million, three-year, research, development and engineering contract to develop lightweight aluminum structures for military ground combat and tactical vehicles. This award is part of Alcoa's Army Lightweight Structures Initiative (ALSI). The contract is a follow on to the $1.2 million the Army initially awarded Alcoa in 2004.
Contract monies will be utilized by Alcoa's technical personnel in conjunction with the Army's Tank-Automotive Research, Development and Engineering Command (TARDEC) and through collaborative relationships with major military land vehicle original equipment manufacturers (OEMs) such as General Dynamics, BAE Systems, Oshkosh Truck Corporation and Stewart & Stevenson.
According to Alcoa Chief Technical Officer and Vice President Mohammad A. Zaidi, "We are pleased that the U.S. Army has found value in our technical and product expertise and believes that aluminum has the ability to contribute to vehicle transformation by reducing weight and enhancing structural integrity. Based on our close associations in the defense industry, we understand that weight savings will have a profound effect on the military's ability to maneuver vehicles quickly and to transport more equipment on existing cargo planes saving valuable time, money and fuel costs. We're also looking forward to continuing the relationships we've built with major defense contractors and to assisting them with the capabilities we have at Alcoa."
Alcoa is the world's leading producer and manager of primary aluminum, fabricated aluminum and alumina facilities, and is active in all major aspects of the industry. Alcoa serves the aerospace, automotive, packaging, building and construction, commercial transportation and industrial markets, bringing design, engineering, production and other capabilities of Alcoa's businesses to customers. In addition to aluminum products and components, Alcoa also markets consumer brands including Reynolds Wrap(R) foils and plastic wraps, Alcoa(R) wheels, and Baco(R) household wraps. Among its other businesses are vinyl siding, closures, fastening systems, precision castings, and electrical distribution systems for cars and trucks. The company has 131,000 employees in 43 countries and has been named one of the top three most sustainable corporations in the world at the World Economic Forum in Davos, Switzerland. More information can be found at www.alcoa.com