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Alcoa Corporation (NYSE: AA) is a global leader in the production and management of bauxite, alumina, and aluminum products. Established nearly 130 years ago, Alcoa has been a forerunner in the aluminum industry, continually innovating to make aluminum an affordable and essential part of modern life. The company operates in three segments: Bauxite, Alumina, and Aluminum, with the majority of revenue generated from the Aluminum segment. Alcoa is committed to sustainability, efficiency, and community strength, leveraging its substantial energy assets and extensive portfolio of value-added cast and rolled products. Recent initiatives include the curtailment of its Kwinana Alumina Refinery in Australia, the acquisition of Alumina Limited, and continued advancements in its ELYSIS™ technology, which aims to produce aluminum with zero direct greenhouse gas emissions.
Alcoa's business operations span the entire aluminum value chain, from bauxite mining and alumina refining to the production of primary aluminum. The company has a strong presence in both the U.S. and global markets, with significant contributions from its operations in Australia, Brazil, and Europe. Financially, Alcoa has shown resilience, adapting to market conditions and focusing on long-term profitability and shareholder value. The company's partnerships, including those with ELYSIS™ and Nexans, emphasize its commitment to sustainability and innovation in the aluminum industry. Alcoa's forward-looking strategies are geared towards enhancing operational efficiency, reducing environmental impact, and driving technological advancements.
Alcoa Corporation announces participation in a Q&A session at the Bank of America Securities Global Metals, Mining & Steel Virtual Conference on May 19, 2021, featuring CEO Roy C. Harvey and CFO William F. Oplinger. The live audio webcast begins at approximately 11:40 a.m. EDT and can be accessed via the Investors section of Alcoa's website. A related slide presentation will be available starting May 17 at 5:00 p.m. EDT. A replay of the session will also be accessible post-conference. Alcoa, a leader in aluminum production, emphasizes transparency in future announcements through their website.
Alcoa Corporation (NYSE: AA) reported strong first quarter 2021 results, reflecting record revenue of $2.87 billion, a 20% sequential increase due to higher prices and shipments of alumina and aluminum. Net income surged to $175 million, an improvement from a loss in the previous quarter. The company’s strategic asset sales, including the $670 million sale of the Warrick rolling mill, further strengthened its balance sheet, ending the quarter with $2.5 billion in cash. Alcoa anticipates continued growth in 2021, driven by increased demand across sectors.
Alcoa Corporation (NYSE: AA) announced the completion of the sale of its rolling mill and related assets in Evansville, Indiana, to Kaiser Aluminum Corporation, finalized on March 31, 2021. The transaction generated approximately $670 million, including Kaiser assuming certain postretirement employee benefit liabilities. Alcoa retains ownership of its smelting capacity and has established agreements with Kaiser for metal supply and leasing. The sale impacts 660 employees at the Warrick site.
Alcoa Corporation is set to announce its first quarter 2021 financial results on April 15, 2021, after the market closes. The press release and related presentation will be accessible on www.alcoa.com. A conference call will follow at 5:00 p.m. EDT to discuss the results, featuring CEO Roy Harvey and CFO William Oplinger as hosts. Domestic and international dial-in numbers are provided for participants. Replay options will also be available post-call through the website and phone.
Alcoa Corporation (NYSE:AA) has successfully closed a $500 million offering of 4.125% senior notes due 2029, guaranteed on a senior unsecured basis by Alcoa and its subsidiaries. The proceeds will fund a $500 million contribution to U.S. pension plans for employees and fully redeem the 6.75% Senior Notes due 2024. This offering enables the conditional redemption of the 2024 Notes and adheres to private placement regulations under the Securities Act. Alcoa has a rich history in aluminum production, relying on innovation and sustainability.
Alcoa Corporation has announced its supply of sustainable aluminum for the Audi e-tron GT wheels, utilizing a groundbreaking technology that eliminates direct carbon emissions from smelting. This aluminum is sourced for RONAL GROUP, integrating ELYSISTM zero-carbon emissions technology and EcoLum™, a low-carbon product. ELYSIS technology replaces traditional carbon anodes with inert materials, showing promise for sustainable aluminum production. This partnership enhances Audi's sustainability efforts while ensuring high-performance alloy wheels made using 100% green electricity in Germany.
Alcoa Corporation has announced new five-year energy agreements for the Portland Aluminium Smelter in Victoria, Australia, with AGL, Alinta Energy, and Origin. Starting August 1, 2021, these agreements will enhance competitiveness. The Australian Federal Government plans to contribute up to $14.8 million annually for four years to support the smelter's participation in the Reliability and Emergency Reserve Trader scheme. The Victorian Government also plans to match this funding. Currently, production is at 85% of the smelter's capacity of 358,000 metric tons annually.
Alcoa Corporation (NYSE:AA) announced the pricing of $500 million in 4.125% senior notes due 2029, backed by guarantees from Alcoa and its subsidiaries. The proceeds will fund a $500 million contribution to U.S. defined benefit pension plans, redeem outstanding 6.75% Senior Notes due 2024, and cover transaction expenses. The redemption of $750 million in 2024 Notes is scheduled for April 7, 2021, at a premium. The notes will be sold to qualified buyers under Rule 144A and Regulation S, and are not registered under the Securities Act.
Alcoa Corporation (NYSE:AA) has announced a proposed offering of $500 million in senior notes by its wholly-owned subsidiary, Alcoa Nederland Holding B.V. The proceeds will be mainly used to contribute to U.S. defined benefit pension plans and to redeem outstanding 2024 Notes. The notes are to be sold in a private placement and will not be registered under the Securities Act. Alcoa aims to ensure financial stability while managing its debt obligations through this issuance.
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