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DAVENPORT, IA--March 23, 2001--
Alcoa Inc., a recognized global leader in aluminum aerospace alloy
development, announced today that it will increase its productive
capacity for aerospace and tooling plate by 30% at its sheet and plate
facility here to meet growing world demand.
"This expansion is an investment in the future that will help us meet
the current and anticipated demand for our aerospace alloys in the
growing global aerospace market," said John W. Collins III, Vice
President of Alcoa Inc. and President of Alcoa Mill Products.
According to Collins, "Alcoa will invest nearly $90 million to expand
aerospace plate capacity at its Davenport Works facility in Iowa. This
expansion strengthens Alcoa's ability to provide these products for
growing worldwide aerospace demand."
Nearly every plane builder in the world is using Alcoa technical
services to develop and specify alloys to build safer and more
fuel-efficient planes. Collins explained, "Alcoa collaborates with
airframers providing the most sophisticated technical expertise
available in both material and airframe design. As a result, nearly
every alloy in the air today was developed by Alcoa and the demand for
our products is growing along with the aerospace industry."
At its Davenport, Iowa, facility Alcoa will break ground next month for
this additional capacity with a new state-of-the-art horizontal heat
treat furnace and quench system, a new plate stretcher and new plate
saw. The installation of this equipment should be complete and producing
products for customers by the fourth quarter of 2002. "We know global
demand is increasing and we are committed to expanding to meet the needs
of our customers," added Collins.
Alcoa is the world's leading producer of primary aluminum, fabricated
aluminum and alumina. It provides customers in packaging, consumer,
automotive, aerospace, construction and other markets with a variety of
fabricated and finished products. Alcoa has 142,000 employees in 37
countries.
Editorial Contact:
Timothy M. Wilkinson
319-459-3008
Investor Relations:
Charles D. McLane
212-836-2674
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