Alain J. P. Belda Quotes
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The combination of operating efficiencies and higher prices resulted in the strongest quarter Alcoa has ever had.
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We are focused on managing what is under our control.
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It was a great quarter by any measure. We did not have significant one-time effects as we did throughout the year last year.
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Global manufacturing weakness has persisted longer than we anticipated, ... In particular, aerospace, industrial gas turbine and telecommunication markets remained soft, reinforcing the need to increase the scope of our cost savings and restructuring initiatives.
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I will not mortgage the future of the company.
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While we are still fighting inflationary pressures, cost increases have slowed from last year, and our restructuring and efficiency initiatives have helped strengthen profitability.
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We have an aggressive productivity program, but it has not offset the impact of escalating costs in energy and raw materials and the speed at which they are flowing through.
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This venture deepens our investment in expanding our flat-rolled products capabilities globally and increases our manufacturing flexibility and productivity.