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June 12, 2002
Alcoa Highlights The Future of Aerospace Metallics
PITTSBURGH--(BUSINESS WIRE)--June 12, 2002--In the opening session
of Aeromat 2002, a major advanced aerospace materials and processes
conference in Orlando, Florida, L.P. (Pat) Hassey, Alcoa executive
vice president and chair of Alcoa's aerospace market sector team,
which includes all Alcoa businesses serving the aerospace industry,
spoke on "The Future of Alcoa Aerospace Metallics." Highlights of
Hassey's remarks include:
- Alcoa's historic role as a leading supplier of aerospace
metallics has been significantly expanded via the addition of
Howmet Castings and Huck Fasteners. (Alcoa acquired the two
companies in 2000.) Today, Alcoa is truly "all over" the
aircraft, and more capable than ever before of being a
complete source for integrated solutions.
- Alcoa is matching the performance properties of composites in
certain classes of structure at significantly lower costs and
at lower risks. The major aerospace companies may now compare
Alcoa's highest-performance metallics against today's
- Alcoa has been successful in winning key material development
applications proposed for the Airbus 380.
- From Kitty Hawk and the Sea of Tranquility, to the Space
Shuttle and next-generation aircraft, Alcoa has been
intimately involved in major aerospace initiatives since
manned flight began. In fact, Alcoa developed 95 percent of
the aerospace aluminum alloys flying today.
- Alcoa has begun work with Boeing to help them evaluate the
best materials options available for their next-generation
aircraft. This work may include Integrated Product Teams and
Virtual Product Development Teams.
- Alcoa is applying its structural design expertise to the
development of finished components -- not to replicate
customers' skills set -- but to apply Alcoa skills to new
products, such as the new Fortress(TM) Cockpit Door. The new
Fortress Cockpit Door initiative went from concept to reality
in just seven months.
- Performance advancements in the development of new metallic
alloys that once took Alcoa four to six decades to accomplish,
will now only take two to three years. Alcoa's customer
understanding, coupled with its core technologies,
significantly shortens development, enhance performance,
reduce systems costs and lower risk of Advanced Alcoa
Aerospace Metallics Solutions.
At next month's Farnborough Air Show in England - the major international
aerospace event of 2002 - Alcoa will continue to feature its leading
position in aerospace solutions.
Alcoa is the world's leading producer of primary aluminum,
fabricated aluminum and alumina, 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 as a single solution to customers.
In addition to aluminum products and components, Alcoa also markets
consumer brands including Reynolds Wrap(R) aluminum foil, Alcoa(R)
wheels, and Baco(R) household wraps. Among its other businesses are
vinyl siding, closures, precision castings, and electrical
distribution systems for cars and trucks. The company has 129,000
employees in 38 countries.
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, performance or achievements related to this
transaction to be different from those expressed or implied in the
forward-looking statements. Important factors that could cause actual
results to differ materially from those in the forward-looking
statements include Alcoa's inability to achieve the level of growth
anticipated by management, including possible increases in the cost of
doing business resulting from economic or competitive factors in
Japan, and other risk factors summarized in Alcoa's Form 10-K for the
year ended December 31, 2001.