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| Alcoa Combines Wheel Products and Auto and Truck Business into New Business Unit; Kevin Kramer Named President of the New Business Unit |
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CLEVELAND--(BUSINESS WIRE)--Alcoa (NYSE:AA) announced today that it has combined its Wheel Products business with its Auto and Truck Structures business to form a new business unit, called Wheel and Transportation Products. The change was made to capture adjacent growth opportunities and strengthen Alcoa’s overall ground transportation portfolio. The company also said that effective immediately Kevin B. Kramer, 48, currently President, Alcoa Wheel Products, will become President, Wheel and Transportation Products.
The new business unit, headquartered in Cleveland, will serve the commercial vehicle, automotive, and defense markets with products used in a range of applications including forged aluminum wheels, aluminum space frames, specialized vacuum die cast products, niche products such as Dura-Bright® and Dura-Flange® wheels and M-Series™ medium truck wheel, as well as a variety of other aluminum components for these markets.
“We believe combining these two businesses will allow us to improve our already strong portfolio in the markets we serve. Our focus will continue to be on global growth, innovation and manufacturing excellence,” said Kramer.
The new business unit will consist of three divisions:
- Transportation Products (formerly Auto and Truck Structure)
- Commercial Vehicle Wheels
- Automotive Wheels
Scott Kerns has been named Vice President and General Manager, Transportation Products. He has been Global Vice President, Marketing for Alcoa Wheel Products.
The Commercial Vehicle Wheel Division will continue to be led by Vice President and General Manager Tim Myers.
The Auto Wheel Division will continue to be headed by Michael Parnell, Vice President and General Manager.
Alcoa Wheel and Transportation Products employ 2,800 people at 30 locations worldwide.
About Alcoa
Alcoa is the world leader in the production and management of primary aluminum, fabricated aluminum and alumina combined, through its active and growing participation in all major aspects of the industry. Alcoa serves the aerospace, automotive, packaging, building and construction, commercial transportation and industrial markets, bringing design, engineering, production and other capabilities of Alcoa's businesses to customers. In addition to aluminum products and components including flat-rolled products, hard alloy extrusions, and forgings, Alcoa also markets Alcoa® wheels, fastening systems, precision and investment castings, and building systems. The Company has 97,000 employees in 34 countries and has been named one of the top most sustainable corporations in the world at the World Economic Forum in Davos, Switzerland. More information can be found at www.alcoa.com
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