Alcoa Splits Into 2

Alcoa Inc. officially split into two companies on November 1. Plans for the split were first announced on September 28, 2015. A new upstream company named Alcoa Corp. is organized into six business units: bauxite, alumina, aluminum, cast products, rolled products and energy.

A new downstream company named Arconic Inc. develops and manufactures high-performance engineered products and solutions for the aerospace, industrial gas turbines, commercial transportation, and oil and gas markets. Both companies are headquartered in New York, and both are listed on the New York Stock Exchange.

Alcoa Corp. has 16,000 employees and a footprint that includes 25 mining, processing and manufacturing facilities worldwide. The company holds the world’s largest bauxite mining portfolio and has access to large bauxite deposits with mining rights that extend in most cases to more than 20 years. It produced 45.3 million dry mt of bauxite in 2015.

The company is the world’s largest alumina producer, with nine refineries on five continents. It has smelting capacity in Australia, Brazil, Canada, Iceland, Norway, Spain, and the United States, and it has a 25.1% interest in an integrated mine-to-smelter joint venture with Ma’aden in Saudi Arabia.

As featured in Womp 2016 Vol 12 -