Adv
LANGUAGES
English
Hindi
Spanish
French
German
Chinese_Simplified
Chinese_Traditional
Japanese
Russian
Arabic
Portuguese
Bengali
Italian
Dutch
Greek
Korean
Turkish
Vietnamese
Hebrew
Polish
Ukrainian
Indonesian
Thai
Swedish
Romanian
Hungarian
Czech
Finnish
Danish
Filipino
Malay
Swahili
Tamil
Telugu
Gujarati
Marathi
Kannada
Malayalam
Punjabi
Urdu
11 FEBRUARY 2019 AL CIRCLE

Arconic plans to split into two separate companies

EDITED BY : HEENA IQBAL 1MINS READ

Arconic announced that it will separate into Engineered Products & Forgings and Global Rolled Products, with a spin-off of one of the businesses. The US aluminium products manufacturer will also consider the sale of businesses that do not fit into either of the divisions.

Arconic Chairman and Chief Executive Officer John Plant said, “After a rigorous and comprehensive process, we did not receive a proposal for a full-company transaction that we believe was in the best interests of our shareholders. The Board sees more shareholder value creation through a restructuring of the Company.”

{alcircleadd}

“As part of the strategy and portfolio review, we have determined to separate the portfolio into Engineered Products & Forgings and Global Rolled Products. In addition, we will also explore the potential sale of businesses that do not best fit into Engineered Products & Forgings and Global Rolled Products.”

Arconic said it expects to cut its quarterly common stock dividend from $0.06 to $0.02 per share. The company commenced plans to reduce operating costs by approximately $200 million on an annual run-rate basis.

The Company intends to execute its previously authorized $500 million share repurchase program in the first half of 2019.


Adv
Adv
Adv
Adv
Adv
Adv
Adv
EDITED BY : HEENA IQBAL 1MINS READ

Responses

Adv
Adv
Adv
Loading...
Adv
Adv
Adv
Loading...
Reports VIEW ALL
Loading...
Loading...
Business Leads VIEW ON AL BIZ
Loading...
Adv
Adv
Would you like to be
featured with us?
Loading...

AL Circle: Aluminium Ecosystem App

A proud
ASI member
© 2026 AL Circle. All rights reserved. AL Circle is not responsible for content from external sources.