Tag: Alcoa
Arconic repurchasing $200M in common stock
Arconic Inc., parent company of Alcoa Wheels, today announced it has entered into an accelerated share repurchase (ASR) agreement with Goldman Sachs & Co. LLC to repurchase US$200 million of Arconic’s common stock, pursuant to the share repurchase programme previously authorised by the company’s Board of Directors.
Tyreline appoints Alcoa sales representative
Tyreline, the premium distributor of Alcoa Wheels Premium has announced the appointment of Dan Haynes as its new office based salesman.
Arconic launches new Alcoa surface treatment in Europe
Arconic’s Alcoa Wheels product portfolio is expanding to include forged aluminium wheels with a combined Dura-Bright/Dura-Flange surface treatment.
Alcoa appoints Felix Sellmann as marketing manager
Arconic has appointed Felix Sellmann as marketing manager for Europe, Middle East and North Africa, effective August 4. Felix Sellmann will replace Orsolya Ujvary for a period of two years.
All Arconic Wheels exceed DAF requirements in 2016
Arconic has announced that its Alcoa forged aluminium wheels have received a quality achievement award from PACCAR for meeting or exceeding stringent 10 parts per million (PPM) quality performance requirements. Arconic achieved 0 PPM in 2016 for deliveries to DAF, a subsidiary of PACCAR, reflecting excellence in every step of the manufacturing process, forging to finishing to packaging.
István Katus appointed vice-president of Arconic Wheel Products
In January, István Katus was appointed to the role of Europe, Middle East & Africa region vice-president and general manager at Arconic Wheel Products. In this position, he has taken on responsibility for growing and improving the profitability of the company’s wheel business within the region. Katus also remains country manager for Hungary.
Arconic divesting Alcoa Corp. shares in debt-for-equity swap
Arconic Inc., the company created to house the Alcoa wheel business and other metal manufacturing functions following the separation of Alcoa Inc. into two entities last November, is divesting its stake in the other entity, Alcoa Corporation, which is engaged in the mining and manufacture of raw aluminium. The debt-for-equity exchange of Alcoa Corporation common stock will see 12,958,767 shares swapped for debt held by Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC.
Arconic begins search for new CEO after Kleinfeld’s sudden departure
Let sleeping dogs lie, don’t poke the bear, and never, ever antagonise your company’s billionaire major shareholder – especially if he’s already voiced a desire to replace you. Klaus Kleinfeld should have borne this final point in mind when he penned a letter to Paul Singer earlier this month. The correspondence gave Singer, the man behind hedge fund Elliott Management, the ammunition needed to blast Kleinfeld out of Arconic Inc, parent company of Alcoa Wheels.
Alcoa sponsors European Truck Festival 2016
Alcoa Wheel Products Europe is the main sponsor of the European Truck Festival 2016. According to the company, the festival is turning into the biggest event in the truck-field with more than 170 trucks from all over Italy and Europe with thousands of visitors. The event runs in Brescia from 17-18 September 2016.
Alcoa wheels to join Arconic following separation
During the second half of this year, Alcoa will separate into two companies – an upstream company and a value-add company. The upstream company will retain the Alcoa name while the value-add company, which amongst other roles will produce the commercial vehicle aluminium wheels now made by Alcoa’s Transportation and Construction Solutions (TCS) business unit, will be named Arconic.
Alcoa launches new LvL ONE finish
Alcoa Wheel Products, the forged aluminium wheels manufacturer, recently launched the new “LvL ONE” finish, which will be available in all standard Alcoa wheel sizes in the second quarter of 2016 and joins the “Brushed” and “Dura-Bright EVO” finishes as one of three options Alcoa offers to commercial truck fleets
Alcoa names new Western Europe sales manager
Alcoa Wheel Products Europe has named Chris Edwards as sales manager for Western Europe. As a result of the promotion Ghalid Dohri has been appointed sales manager for United Kingdom and Ireland. The succession took effect in August 2015.
Alcoa Wheel Products Europe appoints new sales director
Alcoa Wheel Products Europe has named Kai Sommerlatte as sales director for the Europe, Middle East and North Africa region, effective 1 May 2015.
Lose weight with Alcoa – world’s lightest heavy-duty truck wheel unveiled
At this year’s Mid-America Trucking Show, Alcoa has rolled out what it claims is the world’s lightest heavy-duty truck wheel. The new 40-pound (18.1 kilogramme) wheel is 47 per cent lighter than steel wheels of the same size and five pounds (2.3 kilogrammes) lighter than Alcoa’s previous lightest heavy-duty truck wheel. This weight was able to be shed in the Ultra ONE through the use of a new, patent-pending alloy, MagnaForce. Alcoa says this is on average 17 per cent stronger than is 6061 alloy, the industry standard. The Ultra ONE is available in size 22.5x8.25 inches for heavy-duty, commercial transportation, and is being readied in all OEM customer data books.
Alcoa doubles Hungary truck wheel production
Alcoa, the global leader in forged aluminium wheel technology, has announced plan to invest US$13 million expanding its wheel manufacturing plant in Europe. According to the company, this means doubling production of its increasing popular lightweight, durable, low-maintenance aluminium truck wheels. Work is expected to be completed by early 2015