Today Alcoa announced being recognized as a leader in the aluminum industry by Metal Bulletin for their automotive bonding technology. The publication announced Alcoa as the 2013 winner of “Best Product Innovation” at the conference in Geneva. Alcoa 951, the automotive bonding technology, is a pretreatment process that has effectively negotiated the challenge of bonding aluminum to itself or other materials in a durable fashion.
The significance of this technology is the impact to the automotive industry as manufacturers are increasing the use of aluminum to produce fuel efficient and environmentally safe vehicles. Alcoa is investing $575 million for their auto sheet business in the U.S. and build a rolling mill in Saudi Arabia as they project that aluminum used in cars is expected to almost double by 2025.
“To meet increasing demand for aluminum for vehicle production, Alcoa is investing approximately $575 million to expand its auto sheet business in the United States—in Davenport, Iowa and Alcoa, Tennessee. In addition, Alcoa is building a rolling mill at its greenfield joint venture project in Saudi Arabia with the capacity to produce aluminum automotive sheet.”
Today Alcoa and two other companies were replaced on the Dow Jones Industrial Average. Alcoa was removed and replaced with Nike Inc. Hewlett-Packard was replaced with Visa Inc., and Bank of America was replaced with Goldman Sachs Group. These changes took effect at the close of the trading day on September 20, 2013. Alcoa maintained their position for the 12th consecutive year and was named on the Dow Jones Sustainability Indexes.
“Whether it’s improving the energy efficiency of our primary aluminum business, making cars and airplanes more fuel efficient, or continuing to innovate aluminum food and beverage packaging, sustainability guides everything we do. Alcoa is honored to be named to these highly esteemed sustainability indexes for the past 12 years.” Kevin McKnight, Alcoa Environment, Health and Safety Vice President and Chief Sustainability Officer