Alcoa Halts Noncritical Capital Expenditures After 52% Drop in Net Income

SUGAR LAND--October 10, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--Alcoa (NYSE:AA) (New York, New York), one of the world's largest aluminum producers, reported on October 7 that its net income for the third quarter dropped 52% year over year from $555 million to $268 million. The company attributes its losses to several reasons, including the current state of the economy and market volatility, Chief Financial Officer Charles McLane said. As part of our International Project Database, Industrial Info is tracking 34 active Alcoa projects with a combined total investment value of $8.61 billion.