Howmet Aerospace Archives

Howmet Aerospace: Lower Alcoa sales leads to 7% drop in segment revenue

Howmet Aerospace’s Forged Wheels business, which markets products under the Alcoa brand, has reported revenue of US $278 million during the second quarter of 2024. This represents a decrease of 7% year-on-year and is attributed to volumes shrinking by 4% within the commercial transportation market as well as a decrease in aluminium and other inflationary cost pass through. Segment Adjusted EBITDA was $75 million, a year-on-year decrease of approximately 7%. Segment Adjusted EBITDA margin decreased approximately 20 basis points year over year, to 27.0%.

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31st July 2024/by Stephen

Strong demand for Alcoa Dura-Bright wheels – Groundbreaking for Hungary plant expansion

On Tuesday, Alcoa Wheels Europe broke ground on a plant expansion in Hungary that will meet growing demand for Alcoa Dura-Bright wheels. The start of work at the Howmet-Köfém LLC site follows the recent celebration of Alcoa’s 75th anniversary.

Alcoa manufacturer names sole CEO

Career Tracks

John C. Plant has become the sole chief executive officer of Howmet Aerospace Inc. He takes on the role exclusively following the departure of co-chief executive officer Tolga I. Oal, who has left the company to “pursue other opportunities.” In addition to serving as chief executive officer, Plant will continue as Howmet Aerospace’s executive chairman.

Alcoa now a Howmet Aerospace brand

Company News

Alcoa aluminium wheels is now a Howmet Aerospace brand. On 1 April, Howmet Aerospace Inc. launched as a standalone company following the completion of Arconic Inc.’s separation into two firms. Howmet Aerospace is active in the aerospace, defence and space, and commercial transportation sectors and is made up of engine products, fastening systems, engineered structures and forged wheels businesses that in 2019 generated more than US$7 billion in revenue.

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