Retirees Take ACTION for Local School
Members of the Mt. Holly Retirees Club present a check to the Devon Forest Elementary School in Goose Creek, SC. The retirees earned the $1,500 ACTION grant from the Alcoa Foundation by volunteering at the school.
Learn more about Alcoa Foundation grants available to retirees
Book about Iconic Designer Tells Story of Alcoa Logo
The story of Alcoa's logo is featured in "Saul Bass: A Life in Film and Design," a recent book on the work of the late U.S. graphic designer Saul Bass, who created the Alcoa logo and font unveiled in 1963.
The book details Bass' work with then-CEO Lawrence Litchfield, whom Bass called "especially imaginative" and a "visionary," to create a logo that emphasized the precision and quality of Alcoa aluminum products. The stylized letter "A" we use today was the result.
In addition to the Alcoa logo and font, Bass designed a lead-in to Alcoa-sponsored TV programming. The sequence promoted the company's modernity and practicality as abstract shapes formed an aluminum skyline. As the camera panned overhead, the tops of the buildings spelled out "Alcoa."
The book, written by Bass' daughter Jennifer Bass, also notes that the designer urged Litchfield to change the official name of the company from "Aluminum Company of America" to "Alcoa," which Bass said better represented the nimble, innovative company. The shortened name had been coined beginning in 1910 but was not Alcoa's official corporate moniker until 1999.
Alcoa to Close or Curtail 164,000 Metric Tons of Smelting Capacity
Alcoa will close or curtail 164,000 metric tons (mt) of smelting capacity in the United States and Brazil as part of a smelting capacity review that was announced in May.
One potline representing 40,000 metric tons at the Massena East plant in New York will be permanently closed. In addition, the Company has started to temporarily curtail 124,000 metric tons at its smelters in Brazil. The closures and curtailments will be complete by the end of September.
Strong Q2 Operational Performance Offset by Special Items
Alcoa announced strong operational performance in second quarter 2013 offset by special items primarily for restructuring and a legacy legal matter. As a result, we reported a net loss of $119 million, or $0.11 per share, in second quarter 2013, which includes $195 million of special items.
Excluding the impact of special items, net income was $76 million, or $0.07 per share, driven by productivity gains across all business segments and record performance in Engineered Products and Solutions. In the first half of 2013, Alcoa’s value-add businesses accounted for 57% of total revenues and 80% of segment after-tax operating income.
We reported solid second quarter 2013 revenue of $5.8 billion, positive free cash flow, and lower debt as strong end-market demand mitigated an 8% sequential decline in London Metal Exchange (LME) cash price.
Read the release