Business News
Alcoa Celebrates 50 Years on the Dow at Ringing of New York Stock Exchange Opening Bell
Tuesday 28. July 2009 - Alcoa Chairman, Alain Belda, and CEO, Klaus Kleinfeld, rang the opening bell of the New York Stock Exchange (NYSE) this morning, commemorating Alcoas 50 years as a component of the Dow Jones Industrial Average (DJIA). Todays event is part of the year-long celebration of the 120th anniversary of Alcoas founding.
Of The Dows current components, just eight have been included longer than Alcoa. Alcoa has been a member of The Dow longer than three-fourths of the nearly 100 companies included in the index since its creation in 1896. The DJIA is the best known market indicator in the world. Alcoa joined the Dow on June 1, 1959, as the Aluminum Company of America – demonstrating the importance of aluminum to the post-war industrial era and Alcoa as a leading-edge market indicator based on its wide variety of customers.
“In the 50 years that Alcoa has been a Dow company, weve grown from 17 U.S. locations to a global company with operations in 31 countries,” said President and CEO Klaus Kleinfeld, before ringing the bell that signals the start of the days trading activity. “Since aluminum – todays “miracle metal” — is widely used in virtually every industry, Alcoa has become an important contributor to the Dow Indexs role as a barometer of the U.S. economy.”
Joining Mr. Belda and Mr. Kleinfeld on this historic occasion were representatives of Alcoas present and past. They included CFO Chuck McLane and Vanessa Lau of Alcoas Global Rolled Products organization, representing Alcoas 63,000 employees worldwide. Alcoa retiree, Bruce Cooper, represented retirees from across the globe. Dr. Richard Hunt, whose family in 1888 helped found the Pittsburgh Reduction Company – now Alcoa, represented the companys founders.