Alcoa 2001 Annual Report Download - page 5

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certainty, we are guided by proven strategies and
competencies to nurture organic growth, preserve
shareholder value in difficult times, and grow value
when the times are right. In 2001, we walked away from
several opportunities because they did not, after
analysis, meet our criteria for profitable growth. We
have consistently demonstrated the ability to choose
strategic partners and buy wisely, and to integrate
acquisitions to the mutual benefit of Alcoa and the
businesses we acquire. We will continue to do so.
In addition to a number of relatively small alliances,
acquisitions, and divestitures reported in the News
section of this report, Alcoa undertook a major growth
initiative in 2001. We began a long-term strategic
relationship with Chalco (Aluminum Corporation of
China) that establishes us strongly in the fastest-growing
aluminum market in the world. Our future participation
as a 50% partner in Chalco’s Pingguo primary
aluminum and alumina facility will support our plans
for further growth in fabricated products in China.
We anticipate future mutually beneficial joint ventures
with Chalco.
Customers First
Recognizing that our customers’ world is changing as
much as Alcoa’s, as many consolidate and some become
global enterprises, we have begun to implement a major
shift in the way we manage our relationships with our
customers and among our business units. This customer-
focused change grows from the Alcoa Business System
(ABS) and our recently developed Market Sector Lead
Teams (MSLTs). Connecting with our customers
through ABS is enabling us to selectively deliver to them
just in time and better manage the supply chain. MSLTs
provide a simplified, powerful means to coordinate the
sale and delivery of various products and services from
our geographically and market-diverse businesses to
the same customer, anywhere that customer does
business, bringing to bear the full advantage of our
global capabilities.
Maintaining Our Strengths
The events of 2001, whether tragic, uplifting, or
simply part of everyday business, brought me increased
appreciation of Alcoa’s strength and flexibility as
an organization, and of its people in responding to
whatever an occasion demands of them. In 2001, the
company adopted a new Vision – “Alcoa aspires to
be the best company in the world.” We reaffirmed our
commitment to our Values that have guided the
company for many years, revising them only to place
appropriate emphasis on what we owe to our
customers and people.
The safety of our people and communities always is our
highest priority. Excluding recent acquisitions, Alcoa
locations achieved a 2001 Lost Workday (LWD) rate of
0.16, which translates to only one Lost Workday injury
Setting a World Standard in Safety
lost workday rate per 200,000 work hours
U.S. Manufacturing
Alcoa (excludes acquisitions made in 2000 and 2001)
Source: Bureau of Labor Statistics and Alcoa Real Time Safety Data
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