Alcoa and Kleinfeld Statements Regarding Siemens Matter

Since the start of discussions with Mr. Kleinfeld about his taking a position with Alcoa, the company and its board have sought and received extensive information regarding the Siemens matter. Alcoa continues to monitor the situation, and believes no further comment or action is warranted or necessary... Read more..

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Alcoa and ORKLA ASA Agree to Exchange Equity Stakes

Alcoa announced it has agreed with ORKLA ASA to exchange their stakes in a Norwegian smelting partnership and a Swedish extrusion joint venture in order to focus on their respective areas of expertise and best practices. Alcoa will receive Orkla’s 50 percent stake in Elkem Aluminum ANS while Orkla... Read more..

Highfields to acquire 8 percent of Alcoa

Aluminum producer Alcoa Inc. has recently reported that it has received official notice from Highfields Capital Management of its intention to acquire up to 8 percent of the company’s common shares. The stake includes about 2 percent of Alcoa’s common shares that Highfields’ affiliated... Read more..

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Siemens pursues damages from 11 ex-executives, including Alcoa boss, over corruption scandal

Siemens AG has just published a report saying that it plans to sue two former CEOs and nine other ex-executives for alleged supervisory failings in a corruption scandal that has cost the company millions in fines and damaged its reputation. Siemens’ supervisory board decided to seek damages from... Read more..

Industrial conglomerate Siemens says 3Q profit falls 31 percent as sales increase

Industrial conglomerate Siemens AG has recently told the press that its third-quarter profit fell 31 percent from the same period a year ago, but was buoyed by better orders for power plants. The company, which makes a wide range of products including trains, light bulbs, medical equipment and power... Read more..