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MarketScreener Homepage  >  Equities  >  Nyse  >  Alcoa Corporation    AA

ALCOA CORPORATION

(AA)
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Alcoa : Gains Approval to Market Sustainably Produced Products with Aluminium Stewardship Initiative (ASI) Certifications

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02/19/2020 | 05:11pm EDT

Alcoa Corporation, a global leader in bauxite, alumina and aluminum, today announced that the Aluminum Stewardship Initiative (ASI) has certified the Company to market products under ASI’s Chain of Custody standard.

ASI has the industry’s most comprehensive system for third-party certification of sustainable manufacturing practices. The global non-profit includes multiple stakeholders in its certification process, including producers, users and civil society organizations. The Chain of Custody (CoC) certification and its performance standards provide independent, third-party validation and traceability of responsible production, sourcing and stewardship of aluminum.

“The certifications to the ASI Performance and Chain of Custody standards will offer our customers additional assurance of our commitment to responsible and sustainable production while complementing our existing SustanaTM line of aluminum products,” said Alcoa President and Chief Executive Officer Roy Harvey. “Today’s announcement aligns with our strategic priority to advance sustainably and it serves as another reinforcement of our strong reputation and industry leadership.”

Alcoa’s SustanaTM products includes EcolumTM with less than 2.5 metric tons of carbon per metric ton of aluminum, which is 75 percent better than the industry average, and EcoduraTM billet cast with at least 50 percent recycled content in various alloys and sizes.

Alcoa now has 10 locations on four continents certified under ASI’s standards. Alcoa’s first production facilities were certified to ASI’s Performance Standard, a prerequisite to CoC, in 2019. The Company has earned certifications for three bauxite mines in Brazil and Western Australia, four alumina refineries in Brazil and Western Australia, and three aluminum smelters and casthouses in Europe and North America. The latest facility to earn the Performance Standard certification is Mosjøen in Norway.

“Alcoa is one of the founding members of ASI, and has played an active role in supporting ASI’s goal of responsible aluminium production,” said Fiona Solomon, ASI’s Chief Executive Officer. “Alcoa’s work to earn Chain of Custody Certification from bauxite mining through to smelting and casthouse operations gives a further boost to the potential global production of responsibly produced ASI Aluminium.”

Last month, Alcoa announced certifications for all of the bauxite and alumina refining assets in Western Australia and additional locations are currently going through the review process. The ASI certifications amplify Alcoa’s strong leadership in sustainability – the Company was recently named the industry leader in the Sustainability Yearbook 2020, has earned third-party recognition for its environmental, social and governance performance, and is also a member of the International Council of Mining and Metals.

About Alcoa

Alcoa (NYSE: AA) is a global industry leader in bauxite, alumina, and aluminum products, and is built on a foundation of strong values and operating excellence dating back more than 130 years to the world-changing discovery that made aluminum an affordable and vital part of modern life. Since developing the aluminum industry, and throughout our history, our talented Alcoans have followed on with breakthrough innovations and best practices that have led to efficiency, safety, sustainability, and stronger communities wherever we operate. Visit us online on www.alcoa.com, follow @Alcoa on Twitter, and on Facebook at www.facebook.com/Alcoa.

Dissemination of Company Information

Alcoa Corporation intends to make future announcements regarding company developments and financial performance through its website, www.alcoa.com, as well as through press releases, filings with the Securities and Exchange Commission, conference calls and webcasts.


© Business Wire 2020
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Financials (USD)
Sales 2020 9 680 M
EBIT 2020 477 M
Net income 2020 -282 M
Debt 2020 1 010 M
Yield 2020 -
P/E ratio 2020 -4,62x
P/E ratio 2021 28,7x
EV / Sales2020 0,23x
EV / Sales2021 0,22x
Capitalization 1 218 M
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Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 14,65  $
Last Close Price 6,55  $
Spread / Highest target 312%
Spread / Average Target 124%
Spread / Lowest Target 3,05%
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NameTitle
Roy C. Harvey President, Chief Executive Officer & Director
Michael G. Morris Non-Executive Chairman
John D. Slaven Chief Operations Officer & Executive VP
William F. Oplinger Chief Financial Officer & Executive Vice President
Ernesto Zedillo Ponce de León Independent Director
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