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October 19, 2006
Alcoa's Hungary Operations Named Most Efficient Based on Financial Measure
SZEKESFEHERVAR, Hungary & PITTSBURGH--(BUSINESS WIRE)--Alcoa announced today that its Alcoa-Köfém
operation located in Szekesfehervar, Hungary was ranked as the “Most
Efficient Company” by major business weekly Figyelö
of the 200 largest corporations in the country based on ratios of Ebitda
(earnings before interest, taxes, depreciation and amortization) to
invested capital, a financial indicator. The award is based on 2005
On behalf of Figyelö, an independent
team of business leaders and academia evaluated the performances of the
companies in several categories, including efficiency, profitability,
and research and development.
received the “Year 2005 Most Efficient Company”
national award at a ceremony in Budapest which was attended by more than
400 business and government leaders, including the Economic Minister.
in Hungary has been very positive, and the company has continually
invested in Alcoa-Köfém
over the last decade. This recognition highlights Alcoa-Köfém’s
positive financial performance,” said Bela
Forgo, Country Manager Hungary and General Manager of Köfém.
Alcoa in Hungary
Alcoa Hungary produces extrusion and rolling ingots, flat rolled
products, automotive structures, truck bodies, wheels for trucks and
buses, plastic closures, fasteners for the aerospace industry,
processing components for jet aircraft and super alloy industrial gas
turbines, as well as wire harnesses for the automotive industry. Alcoa
Hungary is the 15th largest employer in the country, with 5,700 jobs.
Alcoa's total investment of $900 million makes it the sixth largest
investor in Hungary, and the second largest American investor. In 2005,
Alcoa announced a major $83 million modernization project in Hungary
that will renew the product mix at Alcoa-Köfém
toward higher value-added products. The modernization includes expanding
capability and infrastructure for flat-rolled products, and launching a
new manufacturing operation for airfoil castings.
Alcoa (NYSE:AA) 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® foils
and plastic wraps, Alcoa® wheels, and Baco®
household wraps. Among its other businesses are closures, fastening
systems, precision castings, and electrical distribution systems for
cars and trucks. The company has 129,000 employees in 44 countries and
has been named one of the top most sustainable corporations in the world
at the World Economic Forum in Davos, Switzerland. More information can
be found at www.alcoa.com
Note to Editors: There should be an umlaut over the "o" and an accent
over the "e" in "Köfém"
throughout the release. There should also be an umlaut over the "o" in "Figyelö"