Word: alcoa
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Dates: during 1950-1959
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After earmarking 60% of their production for defense and Government stock piling, aluminum's Big Three in the U.S. (Alcoa, Reynolds, Kaiser) cannot meet booming U.S. civilian demand. No foreign competitor knows this better than Canada's Aluminium Ltd., world's biggest producer of primary aluminum ingot. Its salesmen have been calling on the Big Three. Last week, Aluminium Ltd. closed deals with Alcoa and Kaiser to supply them with a whopping 713,000 metric tons of aluminum during the next five years. Price: more than $300 million...
...same pattern held true in many other industries. In aluminum, Alcoa's $13,300,000 profit was a 13% gain, but fast-expanding Reynolds Metals' $7,000,000 was a 111% gain. Neither the biggest steel nor the biggest auto companies have yet reported, but in both industries smaller companies showed big gains. Specialty-steelmaker Allegheny Ludlum had a 44% increase (to $2,000,000), and Sharon Steel's $2,000,000 was a 49% gain. (But middle-sized Armco showed a 3% drop.) In autos, Packard was way ahead of last year (see below), and Nash...
...America's announcement of plans for a giant aluminum smelter and two power plants near Skagway on the Canadian border. The cost, $400 million, would make the project the second biggest single investment ever made at one site by U.S. private industry.† It would eventually boost Alcoa's aluminum capacity 60% to 2.1 billion pounds annually, provide year-round employment for 4,000 and create a new Alaskan city...
...Alcoa's plan is to dam the Yukon River deep in Yukon Territory, thus raise the level of several lakes near the border. Alcoa would then tunnel 21 miles through mountains and under the fabled Chilkoot Pass to bring the water down through penstocks to the turbines. The generators would be in the rock itself, protected from the weather and enemy bombs. The power would be cheap enough (probably 2? per Ib. of aluminum v. 4$ at Alcoa's most recent U.S. facilities) to offset the cost of transporting alumina all the way north and finished aluminum...
Into a new wing of Alcoa's Lafayette, Ind. plant last week rolled a 107-ton steel casting made in Germany. The huge casting is actually only a single pact of a still bigger machine: a giant extrusion press 2½ times more powerful than any of its type in the U.S. When it is put together, the press will be capable of horizontally ramming a heated aluminum billet into a stationary die with a force of 13,200 tons (equal to the weight of 156 loaded coal cars). The new press will cut production time in half...