(MENAFN) Alcoa Inc., the world's third largest producer of aluminum, recorded USD140 million net income for the second quarter of the year, marking an increase from the USD138 million for the same quarter last year, RTE News reported.
The increase is attributable to the growing demand from the aerospace and automobile sectors which counterbalanced the influence of lower aluminum prices, added to the increase in sales reaching USD5.90 billion for the quarter.
"We continue to transform Alcoa. Our portfolio reshaping combined with smart investments in growth markets is delivering strong results," The Chief Executive Officer of Alcoa said.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.