Released on Friday, April 27, 2007

Alcoa, Pittsburgh, announced it has changed the name of its investment cast and forged products business unit to Alcoa Power and Propulsion.

The announcement comes several days after the company said it plans to “explore strategic alternatives” with those businesses, among other assets.

Serving the aerospace, defense, energy and industrial markets, the newly named Alcoa Power and Propulsion represents the divisions of Alcoa that produce components for jet engines and industrial gas turbines.

“We believe that our new name identifies us by the markets and customers we serve rather than the products we make,” said Raymond B. Mitchell, president of the business unit. “The name links us to our ‘power’ customers in the energy and industrial markets and our ‘propulsion’ customers in the aerospace and defense side of our business.”

The two divisions that make up this business unit also were renamed. Howmet Castings has been renamed Alcoa Howmet, and the Aerospace & Industrial Products division is now Alcoa Forged and Cast Products.

Alcoa Power and Propulsion will continue to provide airfoil and structural investment castings, forged structural parts and forged aircraft wheels, according to a company press release. The business unit employs more than 11,000 people in 29 worldwide locations.