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Alcoa announces up charges for European flat rolled products due to rising energy costs |
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7/21/2008
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Geneva, Switzerland - July 21, 2008 - Alcoa European Mill Products (EMP) announced today a price increase up to 12% for all flat rolled products.
This step is necessary to compensate the extraordinary rise of prices for energy, transportation, alloy elements and other materials which cost is related to energy.
The price increase will be incorporated in all orders placed after July 21st 2008 and shipments scheduled from September on.
Our sales organization will explain and discuss with you the specific details.
All existing orders and binding contracts already confirmed before will be honored.
Despite the present rising of costs, Alcoa EMP is aware of the necessity of pursuing cost reduction in order to stay competitive in this challenging economic situation.
We consider modernisation of operations, renegotiations of long-term power agreements, and creation of new energy facilities at lower cost as strategic elements of Alcoa’s response to this changing market situation.
About Alcoa European Mill Products (EMP)
Alcoa European Mill Products, headquartered in Geneva, Switzerland, is a leading manufacturer of aluminium flat rolled products and serves the commercial vehicle, automotive, building, industrial, consumer durables and aerospace markets. Alcoa's rolling mills supply a wide variety of products such as sheet, coil, circles, plate and tread plate, closure sheet, lithographic coil, bright products, foil and brazing. More information can be found at www.alcoa.com/emp.
About Alcoa
Alcoa (NYSE:AA) is the world leader in the production and management of primary aluminum, fabricated aluminum and alumina combined, through its active and growing participation in all major aspects of the industry. Alcoa serves the aerospace, automotive, packaging, building and construction, commercial transportation and industrial markets, bringing design, engineering, production and other capabilities of Alcoa's businesses to customers. In addition to aluminum products and components including flat-rolled products, hard alloy extrusions, and forgings, Alcoa also markets Alcoa® wheels, fastening systems, precision and investment castings, and building systems. The company has 97,000 employees in 34 countries and has been named one of the top most sustainable corporations in the world at the World Economic Forum in Davos, Switzerland. More information can be found at www.alcoa.com .
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