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Alcoa CEO to Cramer: Oil prices are unpredictable

Aloca's CEO: Tital fits nicely with strategy

Jim Cramer has said many times before that in order to get a good read on how the global economy is doing, go to Alcoa.

This company can give investors valuable insight on everything from aerospace, autos, trucks and consumer electronics. They basically cover the land and sea and have the pulse on the oil and gas industry.

With the market becoming increasingly more volatile, Cramer turns to Alcoa to find out its view on the global economy.

Alcoa recently acquired TITAL, a German company that makes titanium and aerospace components. At a time when most investors are worried that the decline in oil means a reduction in fuel efficient aircrafts, an investment this large could be a gamble.

Cramer sat down with Alcoa CEO Klaus Kleinfeld to get his take on how the global economy is affecting the company.

Kleinfeld's approach thus far in the market has been two pronged. First, to build the company out to a light-weight multi-material innovation powerhouse and, second, to reduce exposure in the commodity business.

Klaus Kleinfled, CEO of Alcoa
Getty Images

In addition, Alcoa has taken a lead in the 3D manufacturing space in preparation for 2015. Kleinfeld considers the company to be in a leadership position for the industry and the prototype sector. What used to take 18 to 24 months can now be accomplished in weeks, which will ultimately reduce time spent and cost dramatically.

"We are not talking about 3D glasses, we are talking about 3D manufacturing," the CEO said. "We are just seeing the beginning of what we can do here. This is a very important technology and we are investing very heavily in it. I think we are pretty cutting edge in this field."

Cramer commented on the role that gasoline prices play for Alcoa, and Kleinfeld agreed that oil prices are running wild.

"Who can predict where it's going to go? Who would have ever thought that it would have ever come down like this, and who would predict today that it's not going to go to some of the levels that we saw before? That would be very hard to predict," Kleinfeld said.

Read more from Mad Money with Jim Cramer
Cramer Remix: How you'll know when oil's bottomed
Cramer: When will the hideous downturn be over?
Cramer: How to end oil's tumble

Kleinfeld reiterated that he believes the company is on a very good course into 2015. If Alcoa is buying titanium companies at a time of low oil prices, Cramer says that could be a positive indicator that perhaps there are good signals lurking behind the market volatility.

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