Former Siemens CEO Klaus Kleinfeld is New Alcoa President and COO
In the latest breaking business news, Klaus Kleinfeld will become the COO and President at Alcoa after he left Siemens just a few months ago.
Klaus Kleinfeld has been of the Alcoa board of directors for some time, since 2003.
Alcoa is a big player in the aluminium industry and the Alcoa Chairman and CEO said:
“Klaus Kleinfeld has a proven track record of running successful complex, international businesses. He is a seasoned leader who demands results and has a keen sense of the strategic challenges facing the company through his work on the board.”
How do you think Klaus Kleinfeld will perform at Alcoa?
Was the move already in place when Klaus Kleinfeld left Siemens?
Will Klaus Kleinfeld be abel to cope with the current credit squeeze in the markets?
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Aluminium is a undervalued metal for subconscious reasons.. look at copper… as you know copper had gone up to $3 or $4 a pound lately and we heard a lot about copper thievery . Scrap dealers are scrambling to straighten up their operations to make sure there will be no more of that. We had been too dependent on cheap metals like we were on gasoline. We are pretending that aluminium doesnt exist around. We have storefront windows and doors and automobile wheels made of aluminum and we just know that those will be ripped off by thiefs once aluminium catch up with the rest of the metal pack in prices. Aluminium is still the last metal to jump in the metal rally and it definitely will . We cant continue to produce them at a loss. Most of the producers are losing money doing that. This is crazy!! I applaud Belda for bringing the spotlight on aluminium by carrying out the hostile offer for energy cheap happy Alcan. I just thought that Alcoa is superior to Rio because Alcoa and Alcan will produce 8 millions tons against only 5 millions by Alcan and Rio together. It is not about the superior price offer by Rio, it is also about the size of the merger. Alcoa is superior to Rio offer by size and pure play but not by price. Alcan shareholders small or mutual fund managers can still vote down the Rio offer next September 24 and they can be assured that Alcoa will return to Alcan and mesh with Alcan to make the world’s biggest aluminium dog by far above the rest of the pack!! Alcan shareholders are you paying attention?? Alcoa will pay you better than Rio over the longer run unless you think you can find better return elsewhere after you get Rio money!!?? Alcoa is a DJIA stock, for heaven’s sake!! Wake up, Alcan shareholders!! Dont be so stupid to accept “superior” Rio offer!!
Cant you see ?? Alcan used to hover at $50 a share until Alcoa made an offer at $78 a share only to end up being trumped by Rio offer at $101 a share. What does it tell you?? I got to tell you that Wall Street had always been at pain to ignore the aluminium industry. Alcoa Belda exposed Wall Street’s ignorance or stupidity. Rio offer is still inadequate because it is based on low aluminium ingot prices of only $1.25 a pound. Wait until aluminium go up to $3 a pound and you will be glad you voted down Rio offer next September 24th. Do not be so desperate to give up Alcan shares to Rio. Alcoa takeover of Alcan will go a long way to push aluminum prices up because of they will become an aluminium powerhouse pureplay and will continue to buy up other smaller aluminium players later on… Wall Street is too happy to see Rio get Alcan so to keep many competitors going on in the sand box. Look at Phelps Dodge and Freeport merger, they are the copper powerhouse now. It ensures that copper will stay high. If Rio takes Alcan, aluminium will not go up as much and Rio will not make as much profits as Alcan and Alcoa would. Stick with Alcan and Alcoa can come back and buy them while still keeping you in the play for the future!!!
It is the same thing Big Oil had done as Exxon took Mobil and Chevron took Texaco. Oil stays high now. Bulk up!!! So please vote down Rio offer and go back to Alcoa!!! Drop your tight lips and get with it!!