Alcoa Corporation Consolidates Administrative Locations
Company to streamline administrative locations globally to reduce complexity and lower costs
Alcoa Corporation (NYSE: AA), a global leader in bauxite, alumina and aluminum products, today announced that it will
consolidate administrative locations around the globe as it continues to streamline the Company and lower costs.
Alcoa will close its New York City office and move its global headquarters and principal executive office to its existing
location in Pittsburgh as of September 1, 2017. In addition, within the next 18 months, another seven administrative locations
across the U.S., Europe and Asia will also close and affected employees will relocate to remaining office locations or operating
facilities or will telecommute. As a result of today’s announcement, Alcoa expects annual savings of $5 million in corporate
overhead once the changes are fully implemented.
“We are taking every opportunity to streamline Alcoa to reduce complexity,” said Roy Harvey, Chief Executive Officer of Alcoa.
“Today’s announcement is another step in our drive to be a more competitive, operator-centric Company, with smaller corporate
overhead, focused on profitable and successful operations.”
As part of its strategic priority to reduce complexity, earlier this year, Alcoa consolidated its business units. The Company combined the aluminum smelting, cast products and rolled
products businesses, along with the majority of the energy segment assets, into a new Alcoa Aluminum business unit. The Company’s
three business units are Alcoa Bauxite, Alcoa Alumina and Alcoa Aluminum.
About Alcoa Corporation
Alcoa (NYSE: AA) is a global industry leader in bauxite, alumina, and aluminum products, with a strong portfolio of value-added
cast and rolled products and substantial energy assets. Alcoa is built on a foundation of strong values and operating excellence
dating back nearly 130 years to the world-changing discovery that made aluminum an affordable and vital part of modern life. Since
inventing the aluminum industry, and throughout our history, our talented Alcoans have followed on with breakthrough innovations
and best practices that have led to efficiency, safety, sustainability, and stronger communities wherever we operate. Visit us
online at www.alcoa.com, follow @Alcoa on Twitter and on Facebook.
We have included the above website addresses only as inactive textual references and do not intend these to be active links to
such websites. Information contained on such websites or that can be accessed through such websites does not constitute a part of
this press release.
Dissemination of Company Information
Alcoa Corporation intends to make future announcements regarding company developments and financial performance through its
website at www.alcoa.com.
Forward-Looking Statements
This press release contains statements that relate to future events and expectations and as such constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those
containing such words as “anticipates,” “believes,” “could,” “estimates,” “expects,” “forecasts,” “intends,” “may,” “outlook,”
“plans,” “projects,” “seeks,” “sees,” “should,” “targets,” “will,” “would,” or other words of similar meaning. All statements that
reflect the Company’s expectations, assumptions or projections about the future, other than statements of historical fact, are
forward-looking statements. Forward-looking statements are not guarantees of future performance and are subject to known and
unknown risks, uncertainties, and changes in circumstances that are difficult to predict. Although the Company believes that the
expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurance that these
expectations will be attained and it is possible that actual results may differ materially from those indicated by these
forward-looking statements due to a variety of risks and uncertainties. Additional information concerning factors that could cause
actual results to differ materially from those projected in the forward-looking statements is contained in our filings with the
Securities and Exchange Commission. The Company disclaims any obligation to update publicly any forward-looking statements, whether
in response to new information, future events or otherwise, except as required by applicable law.
Alcoa Corporation
Investor Contact:
James Dwyer, 212-518-5450
James.Dwyer@alcoa.com
or
Media Contacts:
Monica Orbe, 212-518-5455
Monica.Orbe@alcoa.com
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