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| June 13, 2007
Alcoa Restarts Tennessee Smelter Ahead of Schedule; Curtails Potline at Rockdale
PITTSBURGH--(BUSINESS WIRE)--Alcoa today announced that it has begun to re-start one line at its
Tennessee Operations aluminum smelter. As previously announced, that
line was idled due to a direct lightning strike in a severe electrical
storm in mid-April. The potline, which produces approximately 107,000
metric tons per year (mtpy), is expected to be fully operational by June
30, 2007.
The potline was completely “frozen”
after the lightning strike and each of the 164 pots had to be dug out
and repaired. It was initially expected that the re-start would take
several months; it has been accomplished in approximately seven weeks
thanks to the hard work of the employees in Tennessee.
The company has also reduced output at its Rockdale, Texas, aluminum
smelter during refurbishment of the anode baking facilities. A line has
been temporarily curtailed due to lower production of quality anodes. A
refurbished bake furnace has now been started, anode quality has been
restored, and pots are being restarted. This re-start will be completed
during the fourth quarter of 2007.
The previously disclosed impact of the production curtailments has been
updated to approximately $45 million in after-tax income in the second
quarter.
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 including flat-rolled products, hard alloy
extrusions, and forgings, Alcoa also markets Alcoa®
wheels, fastening systems, precision and investment castings, structures
and building systems. The company has 122,000 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
Forward Looking Statement
Certain statements in this release relate to future events and
expectations and as such constitute forward-looking statements.
Forward-looking statements may be identified by their use of words like “anticipates,”“believes,”“estimates,”“expects,”“hopes,”“targets,”“should,”“will,”“will
likely result,”“forecast,”“outlook,”“projects”
or other words of similar meaning. Such forward-looking information
includes, without limitation, the statements as to the impact of the
primary aluminum production curtailments on Alcoa’s
financial results and the dates by which the re-started potlines are
expected to be fully operational. Such forward-looking statements are
subject to numerous assumptions, uncertainties and risks that may cause
actual results, performance or achievements of Alcoa to be different
from those expressed or implied in the forward-looking statements. Such
risks and uncertainties include, without limitation, Alcoa’s
ability to successfully re-start the affected pots; the timing of the
completion of the re-starts; the anticipated costs of the potline
re-starts and business interruption; general business and economic
conditions; the supply and demand for, and the prices and price
volatility of, primary aluminum, fabricated aluminum, and alumina; the
absence of other unexpected events that may increase Alcoa’s
cost of doing business or disrupt Alcoa’s
operations; and the other risk factors summarized in Alcoa's Form 10-K
for the year ended December 31, 2006, Quarterly Report on Form 10-Q for
the quarter ended March 31, 2007, and other reports filed with the
Securities and Exchange Commission.
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