Alcoa Completes Firth Rixson Acquisition As Part Of Ongoing Strategic Shift Towards Value-added Products

The acquisition is a significant boost to Alcoa's aerospace revenue. It grows Alcoa's aerospace revenue in 2013 by 20% on a pro forma basis, from $4 billion to $4.8 billion. The acquisition will boost Alcoa's overall revenue by $1.6 billion by 2016, and by $2 billion by 2019. The acquisition will also result in significant cost synergies, primarily driven by purchasing and productivity improvements, optimizing internal metal supply, and leveraging Alcoa's global shared services. Cost savings are...