Boston, MA 03/04/2014 (wallstreetpr) – Alcoa Inc (NYSE:AA) had the honor to be named the most admired metals company by Fortunes magazine. The company topped the Fortune magazine list for the third time in a row and one wonders if another position at the top is possible for this aluminum giant.
The ranking of metals companies by Fortune, of which Alcoa has emerged top in three consecutive years, has been done since the past 31 years. The ranking is viewed as a prestigious position for companies in the metal industry as it speaks a lot about corporate reputation.
The latest ranking whose full list will appear in Fortune’s issue on March 17, identifies Alcoa Inc (NYSE:AA) as topping in about eight out of nine important attributes. It thus goes that the company is considered the most admired for innovation, use of corporate assets, quality of management, long-term investment, financial soundness, people management, social responsibility and product and services quality.
Product quality
Talk about quality of services and products. Alcoa Inc (NYSE:AA) has been identified by various automobile manufacturers as their preferred supplier of value-add aluminum materials for use in vehicle body. Automakers in the U.S. have been moving to embrace aluminum in their vehicle bodies as efforts to comply with regulatory fuel efficiency requirement.
Ford Motor Company (NYSE:F) has particularly reached a deal with Alcoa Inc (NYSE:AA) for the supply of value-add aluminum materials for use in its F-Series trucks. General Motors Company (NYSE:GM) is also moving towards aluminum and Alcoa is being mentioned as its potential supplier.
Thus, it is not hard to understand why Alcoa Inc (NYSE:AA) scored big in quality given that leading names in the auto industry are comfortable using its products.
Employee issue
Alcoa Inc (NYSE:AA) is shutting down some of its high-cost operations. Even so, the company is offering attractive packages to the affected employees. This once again goes a long way into confirm its commitment to best people management practices.
Can another crown come?
Alcoa Inc (NYSE:AA) seems to be vying to be the best it can and possibly dominate the list of most admired metals companies in another season, but only time will tell.
