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26 ordspråk av Alain Belda

Alain Belda

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A reduced upstream pricing environment and higher energy costs affected out results this quarter.

We have an aggressive productivity program, but it has not offset the impact of escalating costs in energy and raw materials and the speed at which they are flowing through.

Looking to the fourth quarter, we expect to continue to benefit from recent acquisitions, our cost reduction program, and the seasonal strength of our packaging and consumer business, ... However, we also expect the softness to continue in the construction, transportation, building and distribution markets and see no relief from the higher energy prices.

Global manufacturing weakness has persisted longer than we anticipated, ... In particular, aerospace, industrial gas turbine and telecommunication markets remained soft, reinforcing the need to increase the scope of our cost savings and restructuring initiatives.

We are not satisfied with these results, ... We are confident that the restructuring of our primary and fabricating businesses, coupled with our continued focus on implementing the Alcoa business system and our commitment to grow the company, will enable us to resume sustainable savings and profitable growth in 2002 and beyond.

The combination of operating efficiencies and higher prices resulted in the strongest quarter Alcoa has ever had,

Earnings were up 6 percent from the first quarter, making the second quarter of 2000 Alcoa's eighth consecutive quarter of improved earnings,

Despite increasing softness in the construction, transportation, building, and distribution markets, as well as significantly higher energy prices, Alcoa achieved record performance as a result of rapid integration of new acquisitions and execution of its cost-cutting initiative,

As we move forward to the fourth quarter, Alcoa expects to benefit from the current strength in aluminum prices, the continued integration of our recent acquisitions, the cost-reduction program and the seasonal strength of our packaging and consumer business,

This recognition supports our reputation as a company that has strong values at its core. Our values guide us in how we treat our employees, stakeholders, customers and community. It is critical to the long-term success of Alcoa.

With the competitive and efficient energy source, the access to skilled labor, and efficient proximity to alumina supplies and customers, the Trinidad smelter will be ideally placed to compete for its share of the world market in primary aluminum. It also creates a solid foundation for the development of an integrated aluminum industry to further diversify and strengthen the economy of Trinidad and Tobago. In terms of technology, design, and environmental performance, this will be a world-class facility.

This venture deepens our investment in expanding our flat-rolled products capabilities globally and increases our manufacturing flexibility and productivity.

While we are still fighting inflationary pressures, cost increases have slowed from last year, and our restructuring and efficiency initiatives have helped strengthen profitability.

Our aerospace and commercial transportation markets are particularly robust this year, and we expect overall market conditions to remain strong.

It was a great quarter by any measure. We did not have significant one-time effects as we did throughout the year last year.

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