If economic trends solidify, we should continue to see improving profitability over the second half of the year, even at current aluminum prices.
Despite significantly higher energy prices which offset more favorable metal prices, we achieved solid cost savings results from the restructuring undertaken over the last two years...,
We are experiencing the bottom-line impact of productivity improvements and the elimination of waste.
While we are not pleased with the short term impact the labor issues have had on our bottom line, our actions are aimed at enhanced global competitiveness of our North American operations.
We are focused on managing what is under our control.
Achieve future sustained savings and profitable growth.
However, as these markets continued to decline in the third quarter, it became likely that even with our efforts, third-quarter earnings will probably fall below the 2000 second-quarter level.
As demand for aluminum strengthens, we will capture the efficiencies generated by last year's strategic restructuring of our operations.
The fourth quarter has proven to be extremely challenging as a result of lower volumes, depressed metal prices, and overall weak downstream markets.
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