11/23/2016 | 1 MINUTE READ

Arconic Launches As a Stand-Alone Company

Facebook Share Icon LinkedIn Share Icon Twitter Share Icon Share by EMail icon Print Icon

Arconic, a provider of materials, engineering services and advanced manufacturing technology, has officially split from Alcoa.

Share

Facebook Share Icon LinkedIn Share Icon Twitter Share Icon Share by EMail icon Print Icon

Arconic has launched as an independent company, providing multi-materials innovation, precision engineering and advanced manufacturing.

The separation of Alcoa Inc. into two stand-alone companies—Arconic Inc. and Alcoa Corp.—took effect November 1 through a pro rata distribution by Arconic Inc. of 80.1 percent of the outstanding shares of the newly-formed Alcoa Corp. Alcoa shareholders receive one share of Alcoa Corporation common stock for every three shares of Alcoa Inc. common stock held as of the record date of October 20, 2016. Alcoa shareholders also retain their shares of Alcoa Inc., which become Arconic Inc. shares.

“Today we launch Arconic as a strong independent company,” said Arconic Chairman and CEO Klaus Kleinfeld. “Our multi-year transformation while part of Alcoa Inc. substantially improved our competitiveness and profitability. Today, we are very well positioned as a leader in attractive markets. Our culture combines driving innovation with a relentless focus on operational excellence and cost control; this positions Arconic to create significant value for our customers and profitable growth for our shareholders.”

A provider of advanced technology solutions, Arconic is a major supplier to a number of industry sectors. Within aerospace, which accounts for approximately 40 percent of Arconic total revenues, the company develops and manufactures high-performance, engineered products and solutions for airframe structures and aero engines. The company can today supply more than 90 percent of the components within the jet engine, and has experience in structural parts for both metallic and carbon fiber-reinforced plastic (CFRP) aircraft.

In the North American automotive market, Arconic invented the bonding process to enable the mass-market shift from steel to aluminum, and says it is capturing growing demand for aluminum sheet as the industry shifts to light-weighting.

Learn more about Arconic’s capabilities in additive manufacturing in this article

RELATED CONTENT

Resources