Aluminum giant Alcoa Inc. announced that it has been recognized by the Fortune magazine as the “most admired” metals company in the world for the second time in a row.
The most admired list of Fortune is based on the surveys conducted by executives, directors and analysts who rate companies in their own industry. Out of the nine parameters that are required for the recognition, Alcoa topped in seven of them. The parameters included innovation, people management, use of corporate assets, social responsibility, quality of management, financial soundness and long-term investment.
Alcoa has been in Fortune’s “most admired” list since the magazine began the annual ranking 30 years ago. Alcoa attributes its success to its employees who strive toward continuous growth of the company, leading to excellence.
Last month, Alcoa received the 2013 Accessory of the Year Award in China. The company was honored in the Best Safety & Energy Savings category. Alcoa received the award based on its contribution to China’s bus manufacturing industry. Alcoa’s award win was dedicated to three factors.
The first one being its brand influence and reputation. The second factor taken into consideration was application of Alcoa's products in the China bus market. Alcoa has a presence in China since 2004 and advanced processes and technologies, as well as high-quality products have made positive contributions to the development of China's bus manufacturing industry.
The company also expanded its presence in the country by opening a production facility in Suzhou, China, and created a full wheel manufacturing, distribution, sales and service network in China. The third factor was Lightweighting. Alcoa’s forged aluminum wheels help to lightweight the commercial vehicle industry, making it an industry leader.
Alcoa is among the world leader with respect to production and management of primary aluminum, fabricated aluminum, and alumina as well as the world’s largest miner of bauxite and refiner of alumina.
Alcoa currently retains a short-term Zacks Rank #3 (Hold).
Other companies in the mining industry with favorable Zacks Ranks are Aluminum Corporation Of China Limited , Paramount gold and Silver Corp. and Denison Mines Corp. with all carrying a Zacks Rank #2 (Buy).