Kaiser Aluminum Corporation Announces Expansion of Aerospace Extrusion Facility
July 19 2011 - 5:00PM
Kaiser Aluminum Corporation (Nasdaq:KALU) today announced it has
commenced expansion of its Kaiser Alexco hard alloy aerospace
extrusion facility in Chandler, Arizona. The investment of
approximately $11 million is expected to be completed by year end
and will provide additional extrusion and heat treat capacity to
meet growing demand for these products in the marketplace.
"Today's environment of unprecedented demand and growth in
commercial aerospace offers a significant opportunity to leverage
our manufacturing platform and market presence to drive growth,"
said Jack A Hockema, President, CEO and Chairman. "Hard alloy
extruded shapes represent an important part of our broad product
offering for aerospace applications, and the expansion of the
facility will further enhance our position as a strategic supplier
of aerospace extrusions in addition to value-added plate, sheet,
cold finish products and drawn tube," concluded Mr. Hockema.
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 effectiveness of
management's strategies and decisions; (b) adverse changes in the
anticipated future demand for hard alloy aerospace extrusions,
including material adverse changes in the commercial aerospace
industry; (c) the Company's ability to complete the contemplated
project as planned; and (d) 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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