Kaiser Aluminum and Airbus Reach Long-Term Agreement to Supply Aluminum Plate and Sheet for Commercial Aircraft
June 23 2011 - 5:00PM
Kaiser Aluminum Corporation (Nasdaq:KALU) today announced it has
reached agreement in principle with Airbus to supply aluminum plate
and sheet for use in the production of commercial aircraft. The
multi-year agreement is subject to definitive documentation, will
commence upon the completion of the companies' existing supply
agreement, and will extend Kaiser Aluminum's longstanding role as a
major supplier of high quality semi-fabricated aluminum products to
Airbus.
"The commercial aerospace industry is poised for significant
growth, and Airbus is positioned well to benefit from this strong
demand," said Jack A Hockema, President, CEO and Chairman. "We
are very pleased with the opportunity to continue as a strategic
supplier of high-quality aluminum plate and sheet for their
aerospace requirements and build on the strong, long-term
relationship between our two companies. Additionally, we are
confident that our recently-launched KaiserSelect
solutions will significantly contribute to Airbus's success."
Company Description
Kaiser Aluminum Corporation, headquartered in Foothill Ranch,
Calif., is a leading producer of semi-fabricated specialty aluminum
products, serving customers worldwide with highly-engineered
solutions for aerospace and high-strength, general engineering, and
custom automotive and industrial applications. The Company's North
American facilities produce value-added sheet, plate, extrusions,
rod, bar, tube and wire products, adhering to traditions of
quality, innovation and service that have been key components of
our culture since the Company was founded in 1946. The Company's
stock is included in the Russell 2000® index and the S&P
SmallCap 600® index.
The Kaiser Aluminum Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6081
Available Information
For more information, please visit the Company's web site at
www.kaiseraluminum.com. The web site includes a section for
investor relations under which the Company provides notifications
of news or announcements regarding its financial performance,
including Securities and Exchange Commission (SEC) filings,
investor events, and earnings and other press releases. In
addition, all Company filings submitted to the SEC are available
through a link to the section of the SEC's web site at
www.sec.gov which includes: Annual Reports on Form 10-K,
Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and
Proxy Statements for the Company's annual stockholders' meetings
and other information statements as filed with the SEC. In
addition, the Company provides a webcast of its quarterly earnings
calls and certain events in which management participates or hosts
with members of the investment community.
This press release contains statements based on management's
current expectations, estimates and projections that constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 involving known and
unknown risks and uncertainties that may cause actual results,
performance or achievements of the Company to be materially
different from those expressed or implied. Kaiser Aluminum cautions
that such forward-looking statements are not guarantees of future
performance or events and involve significant risks and
uncertainties and actual events may vary materially from those
expressed or implied in the forward-looking statements as a result
of various factors. These factors include: (a) the ability to
successfully negotiate definitive documentation; (b) material
adverse changes in the commercial aerospace industry or economic or
industry conditions generally, including global financial markets;
(c) changes in the commercial aerospace market; (d) the Company's
ability to continue to successfully develop and implement its
KaiserSelect products; and (e) other risk factors
summarized in the Company's reports filed with the Securities and
Exchange Commission, including the Company's Form 10-K for the year
ended December 31, 2010.
CONTACT: Investor Relations Contact:
Melinda C. Ellsworth
Kaiser Aluminum
(949) 614-1757
Public Relations Contact:
Dave Quast
Financial Dynamics
(646) 421-5341
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