In addition to www.alcoa.com, Alcoa is an active participant in and uses social media to communicate information about the company. Facebook, Twitter, YouTube and LinkedIn are powerful tools that allow us to connect with our customers, investors, potential employees and fans.
NEW YORK--(BUSINESS WIRE)--As a result of an explosion at Apache Energy's Varanus Island facility,
and the disruption of gas supply to its Western Australia facilities,
Alcoa of Australia today notified its customers that it was declaring
force majeure under its alumina supply contracts. The extent of impacts
upon its customers is yet to be determined. Alcoa of Australia is part
of Alcoa World Alumina and Chemicals (AWAC) which is 60-percent owned by
Alcoa Inc. (NYSE:AA), and 40-percent owned by Alumina Limited.
On June 3rd at 13:45 Apache reported a pipeline
rupture and fire at its Varanus Island gas processing and transportation
hub offshore Western Australia. The incident resulted in complete
shutdown of Apache’s gas production operations
at Varanus Island and a declaration of force majeure by Apache to all
customers.
Alcoa of Australia is still receiving gas from its other supplier -
North West Shelf Gas. Given the supply disruption, the full extent to
which alumina production will be affected is uncertain, but Alcoa is
making efforts to minimize the impact on production and its customers.
The financial impact to Alcoa Inc.’s second
quarter 2008 is expected to be between $0.02 to $0.03 per share. An
additional update on the situation will be made on Alcoa Inc.’s
conference call following the reporting of its second quarter 2008
results on July 8, 2008.
Forward Looking Statement
Certain statements in this release relate to future events and
expectations and as such constitute forward-looking statements involving
known and unknown risks and uncertainties that may cause actual results
of Alcoa to be different from those expressed or implied in the
forward-looking statements. Alcoa disclaims any obligation to update
publicly any forward-looking statements, whether in response to new
information, future events or otherwise, except as required by
applicable law. Important factors that could cause actual results to
differ materially from those in the forward-looking statements include:
(a) Alcoa's inability to minimize the impact of the disruption of gas
supply to its Western Australia facilities on production and its
customers; (b) material adverse changes in economic or aluminum industry
conditions generally, including global supply and demand conditions and
fluctuations in London Metal Exchange-based prices for primary aluminum
and other products; (c) material adverse changes in the markets served
by Alcoa, including the transportation, building and construction,
distribution, packaging, industrial gas turbine and other markets; (c)
Alcoa’s inability to mitigate impacts from
unfavorable currency fluctuations or from increased energy,
transportation and raw materials costs or other cost inflation; and (d)
the other risk factors summarized in Alcoa's Form 10-K for the year
ended December 31, 2007, Quarterly Report on Form 10-Q for the quarter
ended March 31, 2008 and other reports filed with the Securities and
Exchange Commission.
Alcoa on Facebook
Alcoa on LinkedIn
Alcoa on Twitter
AlcoaTV on Youtube