March 18, 2013
ONE SECTOR that's missing the big run-up in stocks is the metals industry, including Pittsburgh-connected firms with stocks at 52-week lows. U.S. Steel's shares closed on Friday at $20.21 after reaching $26 in early January. Alcoa closed at $8.63, about where it has traded for most of the past 12 months after attaining a high of $10.60 last March. -Pittsburgh Tribune-Review
February 20, 2013
In the Region Diagonal Consulting acquired by G3 Following the recent collapse of its debt-burdened parent company, Diagonal Consulting has been acquired by G3 Global in a cash transaction for an undisclosed amount. Berwyn-based Diagonal is a systems-integration firm that helps large businesses implement SAP software. Diagonal president Steve Woodgate said the deal came together in about two weeks after 2e2, a large U.K. information-technology services firm, fell into administration - the equivalent of a Chapter 11 filing in the United States - in late January.
October 11, 2012 |
NEW YORK - Downbeat reports from Alcoa and Chevron at the start of corporate earnings season pulled stock indexes lower for a third straight day Wednesday. The Dow Jones industrial average slumped 128 points, its steepest loss since late June. Alcoa, the Pittsburgh aluminum producer, beat Wall Street's earnings estimates on Tuesday night but said it expects a slowdown in China to weaken demand for aluminum. Its stock fell 42 cents Wednesday to $8.71. The company is often used as a bellwether for the global economy.
February 9, 2012
C. Fred Fetterolf, 83, who retired in 1991 as president of the Pittsburgh aluminum giant Alcoa Inc., died Sunday of complications from a stroke. He was born in Huntingdon, Pa., and first worked for Alcoa as a salesman in 1952. He served in a variety of executive positions before becoming president. Mr. Fetterolf served on the corporate boards of several other companies and did work for various nonprofit charities that included volunteer service for inner-city organizations that served at-risk youths, as well as serving on the boards of Grove City College, the University of Pittsburgh, and Carnegie Mellon University.
January 11, 2012 |
U.S. stocks rose solidly Tuesday after European markets rallied and corporate bellwether Alcoa predicted stronger demand in 2012. The Standard & Poor's 500 index closed at its highest level since July. European markets soared after Fitch Ratings said that it would not downgrade France's credit rating this year. France's CAC-40 index closed 2.7 percent higher; Germany's DAX rose 2.4 percent. A downgrade for France could scuttle the region's efforts to stem its debt crisis. Europe's bailout fund needs France and Germany to keep their sterling credit ratings so it can borrow at affordable rates.
September 2, 2011
David P. Reynolds, 96, a metals manufacturing executive who helped put aluminum foil and aluminum beverage cans into the American kitchen, died Monday in Richmond, Va. Mr. Reynolds was the last member of his family to lead Reynolds Metals, which was founded in 1919 by his father, Richard Sr., and grew to become the nation's second-largest aluminum manufacturer behind Alcoa. Reynolds was sold to Alcoa in 2000, five years after Mr. Reynolds stepped down from its board. He joined the family business as a salesman out of college in 1937 and began trying to persuade the major St. Louis breweries to affix aluminum labels to their beer bottles.
August 2, 2011 |
PHILADELPHIA - Federal officials say an Alcoa subsidiary in central Pennsylvania will pay more than $540,000 to settle claims that it discriminated against minorities and women. Alcoa Mill Products Inc. will pay about $485,000 in back wages to 37 Hispanics and African-American men who were denied jobs at the plant in Lancaster. Two women will split about $35,000. The settlement announced Tuesday by the Labor Department resolves a finding that the company discriminated against minority and female applicants for material handler positions.
April 13, 2011 |
NEW YORK - The Dow Jones industrial average lost more than 100 points Tuesday after Japan raised the severity ranking of its nuclear crisis and Alcoa Inc. reported disappointing sales. A drop in oil prices pulled down energy stocks. Markets also fell in Asia and Europe after Japan said the crisis at its crippled nuclear plant was as serious as the 1986 Chernobyl accident, though much less radiation has leaked. The plant in northern Japan was damaged in the March 11 earthquake and tsunami disaster.
July 31, 2008 |
David A. Surbeck, 66, of Wayne, an innovative architect and entrepreneur, died of complications from a spinal tumor July 23 at Bryn Mawr Hospital. In 1991, Mr. Surbeck cofounded Jet Stream Manufacturing in West Conshohocken. The company developed a method to cut metals and ceramics with high-pressure liquids. Its projects included the Columbus Memorial metal sculpture in Philadelphia, a world map reproduced in marble for the floor of a New Jersey business, brass letters and stars embedded in terrazzo floors for Planet Hollywood restaurants, and aluminum instruments used to hold open horses' mouths for dental work.
January 10, 2006 |
Alcoa Inc. plans to announce a major expansion this morning of its packaging plant in Downingtown, adding 140 jobs for a total of 340. The Pittsburgh company is closing factories in Illinois and Rhode Island and moving equipment and jobs to Downingtown, where it will expand its pharmaceutical- and medical-packaging operations. The plant also prints film for candy wrappers and plastic labels for products such as Nesquick milk drinks, Carnation Coffee Mate and Fuze beverages.