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March 3, 2008
Alcoa Combines Wheel Products and Auto and Truck Business into New Business Unit; Kevin Kramer Named President of the New Business Unit
CLEVELAND--Alcoa (NYSE:AA) announced today that it has combined its Wheel Products
business with its Auto and Truck Structures business to form a new
business unit, called Wheel and Transportation Products. The change was
made to capture adjacent growth opportunities and strengthen Alcoa’s
overall ground transportation portfolio. The company also said that
effective immediately Kevin B. Kramer, 48, currently President, Alcoa
Wheel Products, will become President, Wheel and Transportation Products.
The new business unit, headquartered in Cleveland, will serve the
commercial vehicle, automotive, and defense markets with products used
in a range of applications including forged aluminum wheels, aluminum
space frames, specialized vacuum die cast products, niche products such
as Dura-Bright® and Dura-Flange®
wheels and M-Series™ medium truck wheel, as
well as a variety of other aluminum components for these markets.
“We believe combining these two businesses
will allow us to improve our already strong portfolio in the markets we
serve. Our focus will continue to be on global growth, innovation and
manufacturing excellence,” said Kramer.
The new business unit will consist of three divisions:
Transportation Products (formerly Auto and Truck Structure)
Commercial Vehicle Wheels
Scott Kerns has been named Vice President and General Manager,
Transportation Products. He has been Global Vice President, Marketing
for Alcoa Wheel Products.
The Commercial Vehicle Wheel Division will continue to be led by Vice
President and General Manager Tim Myers.
The Auto Wheel Division will continue to be headed by Michael Parnell,
Vice President and General Manager.
Alcoa Wheel and Transportation Products employ 2,800 people at 30
Alcoa is the world leader in the production and management of primary
aluminum, fabricated aluminum and alumina combined, through its active
and growing participation 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, and building systems. The Company has
97,000 employees in 34 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