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September 21, 2011

Alcoa and Alcoa Foundation Announce Commitments at 2011 Clinton Global Initiative Annual Meeting

NEW YORK--Alcoa and Alcoa Foundation announced two commitments to prepare U.S. workers for manufacturing jobs and to increase the energy efficiency of its operations today at the 2011 Clinton Global Initiative Annual Meeting, a convening of global leaders founded by President Bill Clinton.

The first commitment is a $200,000 Alcoa Foundation investment to fund eight training programs in California, Ohio, Pennsylvania, Tennessee and Texas that will prepare almost 900 adults for current and future manufacturing jobs. Each training program will address its community’s local job demands, from a machinist training program in Southern California, to an industrial maintenance technology program in Tennessee. Alcoa will also provide the programs with insight into industry needs, program curriculum and provide work experience for students.

Secondly, Alcoa has joined President Obama’s “Better Buildings, Better Plants Challenge” to improve energy efficiency in commercial and industrial buildings across the country. Alcoa is implementing an enterprise-wide energy reduction initiative to decrease energy use in its Global Primary Products division by 10 percent and its other businesses by 20 percent by 2020. This initiative includes a recently announced $21 million investment in new technology and facilities for the Alcoa Wheel and Transportation Products business in Barberton, Ohio.

“Education and innovation are critical to America’s growth,” said Klaus Kleinfeld, Chairman and CEO, Alcoa. “We’re pleased to equip Americans with the technical skills to help them get back to work and invest in innovation that will make our manufacturing processes and facilities greener.”

Preparing workers for manufacturing jobs

Approximately 2.7 million manufacturing workers are over 55 years old and will be retiring in the next 10 years. As a result, the demand for skilled labor in manufacturing will continue to increase, but there’s a risk that many of these jobs could remain vacant because workers lack the necessary skills to qualify for these positions.

To proactively address this skills gap, Alcoa Foundation is working with community colleges and academic institutions to develop or expand trade-based training programs. It is focusing on counties within five states that have high unemployment and a demand for skilled manufacturing labor. This two-prong approach addresses the needs of local workers and employers to ensure that students are trained for available positions.

Better Buildings, Better Plants Challenge

Alcoa has been committed to energy reduction for many years. Joining the “Better Building, Better Plants Challenge” is an opportunity to enhance this priority. Alcoa’s enterprise-wide energy reduction initiative includes a $21 million investment to expand the Barberton, Ohio facility. The plan involves constructing a new 35,000 square foot building, designed to be LEED certified, that will use an advanced recycling and casting process to produce new wheels from re-melted and scrap aluminum. This building is the first of its kind in North America and will reduce energy consumption and greenhouse gas emissions.

In addition to improving the energy efficiency of the manufacturing process and providing more eco-friendly products such as lighter-weight wheels, the Barberton, Ohio investment will also create 30 full-time jobs and help protect more than 350 existing positions.

About Alcoa Foundation

Alcoa Foundation is one of the largest corporate foundations in the U.S., with assets of approximately US$436 million. Founded more than 50 years ago, Alcoa Foundation has invested more than US$530 million since 1952. In 2010, Alcoa Foundation contributed nearly US$20 million to nonprofit organizations throughout the world, focusing on promoting environmental stewardship, enabling economic and social sustainability, and preparing tomorrow’s leaders through education and learning. The work of Alcoa Foundation is further enhanced by Alcoa’s thousands of employee volunteers, who in 2010 gave more than 720,000 service hours. Through the company’s signature Month of Service (October) program, Alcoa employees share their energy, passion and purpose to make a difference in our communities. In 2010, a record 49 percent of Alcoans took part in nearly 1,000 Month of Service events across 24 countries, reaching 59,000 children, serving 17,000 meals, planting 16,000 trees and supporting 3,000 nonprofit organizations. For more information about Alcoa Foundation, please access www.alcoa.com/foundation.

About Alcoa

Alcoa (NYSE:AA) is the world’s leading producer of primary and fabricated aluminum, as well as the world’s largest miner of bauxite and refiner of alumina. In addition to inventing the modern-day aluminum industry, Alcoa innovation has been behind major milestones in the aerospace, automotive, packaging, building and construction, commercial transportation, consumer electronics and industrial markets over the past 120 years. Among the solutions Alcoa markets are flat-rolled products, hard alloy extrusions, and forgings, as well as Alcoa® wheels, fastening systems, precision and investment castings, and building systems in addition to its expertise in other light metals such as titanium and nickel-based super alloys. Sustainability is an integral part of Alcoa’s operating practices and the product design and engineering it provides to customers. Alcoa has been a member of the Dow Jones Sustainability Index for 10 consecutive years and approximately 75 percent of all of the aluminum ever produced since 1888 is still in active use today. Alcoa employs approximately 59,000 people in 31 countries across the world. More information can be found at www.alcoa.com.

About the Clinton Global Initiative

Established in 2005 by President Bill Clinton, the Clinton Global Initiative (CGI) convenes global leaders to devise and implement innovative solutions to some of the world’s most pressing challenges. Since 2005, CGI Annual Meetings have brought together nearly 150 current and former heads of state, 18 Nobel Prize laureates, hundreds of leading CEOs, heads of foundations, major philanthropists, directors of the most effective nongovernmental organizations, and prominent members of the media. These CGI members have made more than 2,000 commitments, which have already improved the lives of 300 million people in more than 180 countries. When fully funded and implemented, these commitments will be valued in excess of $63 billion. The 2011 Annual Meeting will take place Sept. 20-22 in New York City.

This year, CGI also convened CGI America, a meeting focused on developing ideas for driving economic growth in the United States. The CGI community also includes CGI U, which hosts an annual meeting for undergraduate and graduate students, and CGI Lead, which engages a select group of young CGI members for leadership development and collective commitment-making. For more information, visit www.clintonglobalinitiative.org.