{"id":35380,"date":"2015-04-30T06:58:35","date_gmt":"2015-04-30T10:58:35","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=35380"},"modified":"2015-04-30T06:58:35","modified_gmt":"2015-04-30T10:58:35","slug":"alcoa-inc-nyseaa-acquires-decade-long-gas-deal-amid-profits-in-1q2015","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/alcoa-inc-nyseaa-acquires-decade-long-gas-deal-amid-profits-in-1q2015-35380","title":{"rendered":"Alcoa Inc (NYSE:AA) Acquires Decade Long Gas Deal amid Profits in 1Q2015"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>Alcoa Inc (NYSE:AA)<\/strong> has successfully reported profits in its 1Q2015. The profit is mainly thought to have come from the smelting division of the company, assisted little by exchange rates. The profits amounted to $195 million, which equaled 14 cents a share. The company had reported a loss of 16 cents a share, for the same period in the preceding year. Furthermore, the Australian wing of the company has reached a deal for gas supplies for almost a decade.<\/p>\n<p style=\"text-align: justify;\">The deal has been made at a strategic point in time, since global resource companies are cutting costs. Additionally, the move would ensure that the Australian wing stays operational for a long time. The details of the agreement state that Consortium would supply 120 tera-joules of natural gas a day, from the newly acquired Apache Energy Ltd, starting from 2020.<\/p>\n<p style=\"text-align: justify;\">The CEO of Alumina Limited, Peter Wasow, indicated that the deal was a positive step, given the current strictness in Western Australian energy markets. He also pointed out that the deal ensures that the industry would operate cost effectively for the next decade. Alcoa Australia, has agreed to a prepayment of $500 million, by 2016 for the venture.<\/p>\n<p style=\"text-align: justify;\">However, the company is still making significant progress with its business dealings in the US. It has been making investments to manufacture aluminum sheets for automobile and aerospace industries. The investments have remained profitable for quite some time, but a recent boost was achieved from the smelting divisions. The division alone reported $187 million in earnings, compared to $15 million in losses around a year ago.<\/p>\n<p style=\"text-align: justify;\">The company manufactures its raw materials abroad, while making the final products in the US. This allows the company to benefit from foreign exchange rates, as has been the case in this quarter. These had resulted in lower energy costs in facility in Spain. However, the company had announced that it would look at cutting down the smelting capacity by 14%.<\/p>\n<p style=\"text-align: justify;\">Alcoa Inc (NYSE:AA) closed at $13.60, after gaining 0.89% on April 29. The company has 1.22 billion shares in the market. The AA stock has a 52-week range of $12.65-$17.75.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Alcoa Inc (NYSE:AA) has successfully reported profits in its 1Q2015. The profit is mainly thought to have come from the smelting division of the company, [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":19679,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[2832,966,11342],"stock_ticker":[],"class_list":["post-35380","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-alcoa-inc-nyseaa","tag-nyseaa","tag-peter-wasow","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Alcoa Inc (NYSE:AA) Acquires Decade Long Gas Deal amid Profits in 1Q2015 - Wall Street PR<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cablemanpro.com\/wallstreetpr\/alcoa-inc-nyseaa-acquires-decade-long-gas-deal-amid-profits-in-1q2015-35380\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Alcoa Inc (NYSE:AA) Acquires Decade Long Gas Deal amid Profits in 1Q2015 - Wall Street PR\" \/>\n<meta property=\"og:description\" content=\"Alcoa Inc (NYSE:AA) has successfully reported profits in its 1Q2015. 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