) has announced that it has received the 2013 Accessory of the
Year Award in China. The company was honored in the Best Safety
& Energy Savings category.
Alcoa received the award based on its contribution to China's
bus manufacturing industry. The awards were sponsored by trade
publications CNbuses.com and shangyongqiche.com, with support
from the China Tourism News. Alcoa's award win was dedicated to
three factors. The first one being its brand influence and
The second factor taken into consideration was application of
Alcoa's products in the China bus market. Alcoa has a presence in
China since 2004 and advanced processes and technologies, as well
as high-quality products have made positive contributions to the
development of China's bus manufacturing industry.
The company also expanded its presence in the country by
opening a production facility in Suzhou, China, and created a
full wheel manufacturing, distribution, sales and service network
The third factor was Lightweighting. Alcoa's forged aluminum
wheels help to lightweight the commercial vehicle industry,
making it an industry leader.
Alcoa released its fourth-quarter 2012 results on Jan 8. The
company swung to profit in the quarter, buoyed by one-time gains.
It posted a profit (from continuing operation) of $242 million or
21 cents per share in the fourth quarter compared with a loss of
$193 million or 18 cents a share reported in the year-ago
quarter. The results were boosted by a gain of $178 million ($161
million post-tax) associated with a hydroelectric project asset
Excluding one-time special items, Alcoa earned $64 million or
6 cents a share in the quarter, in line with the Zacks Consensus
Estimate. The company's midstream and downstream businesses
delivered profits and its cost-cutting measures also supported
Revenues decreased 1.5% year over year to $5,898 million in
the fourth quarter, but were ahead of the Zacks Consensus
Estimate of $5,579 million.
Another mining company
Freeport-McMoRan Copper & Gold Inc.
) recently released its fourth quarter results. The company's
adjusted earnings (excluding one-time gains) of 74 cents per
share for the fourth quarter of 2012 was in line with the Zacks
Profit, as reported, was $743 million or 78 cents per share, a
16.1% rise from the prior-year quarter's profit of around $640
million or 67 cents per share. The results were aided by higher
copper and gold production.
Alcoa currently retains a short-term Zacks Rank #3 (Hold).
Other companies in the mining industry with favorable Zacks
Aluminum Corporation Of China Limited
BHP Biliton Plc.
) with both carrying a Zacks Rank #2 (Buy).
ALCOA INC (AA): Free Stock Analysis Report
ALUMINUM CP-ADR (ACH): Free Stock Analysis
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FREEPT MC COP-B (FCX): Free Stock Analysis
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