Alcoa Predicts Aluminum Growth To Double By 2020

Aluminum industry's growth should double in the next decade as demand picks up in China, Brazil and other emerging countries, Alcoa's chief executive said.

NEW YORK (AP) -- The aluminum industry's growth should double in the next decade as demand picks up in China, Brazil and other emerging countries, Alcoa Inc.'s chief executive said Wednesday.

CEO Klaus Kleinfeld told participants at an investor gathering that he anticipates improved demand for aluminum in transportation, buildings and packaging.

Company executives also detailed long-range revenue predictions for two business segments.

They forecast $2.5 billion in additional revenue by 2013 for rolled products, which are materials used in transportation, consumer electronics and other products. The second forecast called for $1.6 billion in additional revenue by 2013 for engineered products and solutions.

Shares of the Pittsburgh aluminum manufacturing giant closed up 13 cents at $13.88 Wednesday and lost 8 cents in after-hours trading.
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