Alcoa returns to profit in 3Q13 despite low metals prices
Bnamericas Published: Wednesday, October 09, 2013
US-based aluminum producer Alcoa (NYSE: AA), which has interests in Brazil, Jamaica and Suriname, posted 3Q13 attributable net income of US$24mn compared to a US$143mn attributable net loss in 3Q12, according to Alcoa's latest results report. The result was due to strong operating performance, productivity gains and an optimization of Alcoa's upstream portfolio, the company said. Third quarter sales dipped slightly to US$5.77bn from US$5.83bn in 3Q12, as total costs and expenses fell to US$5.69bn in 3Q13 from US$6.04bn in the year-ago period. Alcoa recorded US$109mn in after-tax restructuring charges in 3Q13, related to the closure and curtailing of smelting plants in the US, Canada and Brazil. The closures are aimed at increasing the firm's upstream competitiveness, the report said. Alcoa reaffirmed its 7% global aluminum demand growth forecast for 2013 and expects an essentially balanced alumina and aluminum markets.
Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.
News in: Mining & Metals (Brazil)
Brazil iron ore producer Itaminas to invest US$250mn through 2033
The company's investment plan includes a new mining project and a rail terminal in Minas Gerais.
Brazil prosecutors call for fight against illegal gold mining to be stepped up
Illegal mining in Brazil mainly involves gold production in the north of the country and, in addition to being linked to organized crime, causes se...
Subscribe to Latin America’s most trusted business intelligence platform.
Other projects in: Mining & Metals (Brazil)
Get critical information about thousands of Mining & Metals projects in Latin America: what stages they're in, capex, related companies, contacts and more.
- Project: Luanga
- Current stage:
- Updated:
1 month ago
- Project: Tocantinzinho
- Current stage:
- Updated:
1 month ago
- Project: Jauru (Mirassol D'Oeste)
- Current stage:
- Updated:
1 month ago
- Project: Liberdade
- Current stage:
- Updated:
1 month ago
- Project: Salobo III
- Current stage:
- Updated:
1 month ago
- Project: Fazenda Coqueiro
- Current stage:
- Updated:
1 month ago
- Project: Monte Alto
- Current stage:
- Updated:
1 month ago
- Project: Limoeiro
- Current stage:
- Updated:
1 month ago
- Project: Expansion of the Santa Cruz Mine
- Current stage:
- Updated:
1 month ago
- Project: Paulo Afonso Complex (Gameleira, Polo, Pojuca, Grota Funda)
- Current stage:
- Updated:
1 month ago
Other companies in: Mining & Metals (Brazil)
Get critical information about thousands of Mining & Metals companies in Latin America: their projects, contacts, shareholders, related news and more.
- Company: Sotreq S.A. (Grupo Sotreq)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Grupo Minas Gusa
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Boston Metal (Boston Metal do Brasil)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Magnesita Refratários S.A. (Magnesita Refratários)
-
Magnesita Refratários S.A., a Brazilian subsidiary of RHI Magnesita N.V., is a publicly-traded provider of refractory solutions, services, and industrial minerals created in 193...
- Company: John Deere Latin America, S.A. (John Deere Latin America)
-
John Deere is a US-based firm engaged in the manufacture and distribution of equipment worldwide. Its equipment division provides services to diverse industries, including agric...
- Company: Mineração Serra Verde Ltda. (SVPM)
-
The description included in this profile was taken directly from an official source and has not been modified or edited by the BNamericas’ researchers. However, it may have been...
- Company: Hatch Brasil
- Company: Herculano Mineração Ltda (Herculano Mineração)
-
The description contained in this profile is taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been machine tran...
Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.
