Alcoa-Köfém Kft, the Hungarian unit of US aluminum giant Alcoa, has been named Hungary's most efficient company in a recent survey by business weekly Figyelő.
”This recognition highlights Alcoa-Köfém's positive financial performance,” said Béla Forgó, the unit's general manager. Alcoa has invested $900 million at its unit in Hungary, making it the country's sixth-biggest foreign investor and the second-biggest US investor. It is Hungary's 15th-biggest employer, providing jobs for 5,700 people.
In 2005, Alcoa announced a major $83 million modernization project in Hungary that will renew the product mix at Alcoa-Köfém toward higher value-added products. The modernization includes expanding capability and infrastructure for flat-rolled products, and launching a new manufacturing operation for airfoil castings.
Alcoa Hungary produces extrusion and rolling ingots, flat-rolled products, automotive structures, truck bodies, wheels for trucks and buses, plastic closures, fasteners for the aerospace industry, processing components for jet aircraft and super alloy industrial gas turbines, as well as wire harnesses for the automotive industry. The company had after-tax profit of Ft 23.4 billion on revenue of Ft 198.4 billion in 2005, according to the Figyelő survey.