Efficiency Award For Alcoa’s Hungary Operation

Alcoa has announced that its Alcoa-Köfém operation located in Szekesfehervar, Hungary was ranked as the “Most Efficient Company” by major business weekly Figyelö of the 200 largest corporations in the country based on ratios of Ebitda (earnings before interest, taxes, depreciation and amortization) to invested capital, a financial indicator. The award is based on 2005 figures.

On behalf of Figyelö, an independent team of business leaders and academia evaluated the performances of the companies in several categories, including efficiency, profitability, and research and development.

Alcoa-Köfém received the “Year 2005 Most Efficient Company” national award at a ceremony in Budapest which was attended by more than 400 business and government leaders, including the Economic Minister.

Alcoa Hungary produces extrusion and rolling ingots, flat rolled products, automotive structures, truck bodies, wheels for trucks and buses, plastic closures, fasteners for the aerospace industry, processing components for jet aircraft and super alloy industrial gas turbines, as well as wire harnesses for the automotive industry. Alcoa Hungary is the 15th largest employer in the country, with 5,700 jobs and the total investment of $900 million makes Alcoa the sixth largest investor in Hungary, and the second largest American investor. In 2005, Alcoa announced a major $83 million modernization project in Hungary.