Arconic

Arconic
Public company
Traded as NYSE: ARNC
S&P 500 Component
Industry Manufacturing
Founded November 1st 2016
Headquarters United States
Website www.arconic.com/arconic/

Arconic is a company formed from the split of Alcoa in 2016. Alcoa split its traditional bauxite, alumina and aluminum products unit (which maintained the name), from the manufacturing business trading under the new entity. The company will turn metals into engineered products for various sectors. After the separation was completed, Arconic began trading on the NYSE under the ARNC ticker. The name consists of "A" for Alcoa, "Arc" for the "arc of progress", and "conic" for "iconic products".

History

Arconic is a company created by Alcoa Inc.’s separation into two independent, publicly traded companies in the second half of 2016. Alcoa spun off its Alumina and Primary Metals segments, which include Bauxite, Alumina, Aluminum, Cast Products, and Energy, along with its rolling mill operations in Warrick, Indiana, and Saudi Arabia (currently part of the Global Rolled Products segment) - these formed "new" Alcoa Corp.[1][2][3]

The manufacturing business was renamed as Arconic, and included "old" Alcoa Inc.’s Engineered Products and Solutions, Global Rolled Products (other than the rolling mill operations in Warrick, and Saudi Arabia) and Transportation and Construction Solutions segments.[4][5][6] It focuses on turning aluminum and other lightweight metals into engineered products such as turbine blades for sectors including aerospace and automotive.[7][8][9] According to Alcoa, the name consists of "A" for Alcoa, "Arc" for the "arc of progress", and "conic" for "iconic products". It trades on the NYSE under the ARNC ticker.[4][10][11]

References

  1. ↑ DIETZ, MARGREET. "While you were sleeping: UPDATED Oil report lifts US stocks". NBR. NBR. Retrieved 18 April 2016.
  2. ↑ Stevenson, Abigail. "Cramer Remix: A surprising outlook for earnings". CNBC. CNBC. Retrieved 18 April 2016.
  3. ↑ Deaux, Joe. "One Down, Two to Go for Alcoa as S&P Signals No Junk for Arconic". Bloomberg. Bloomberg. Retrieved 25 September 2016.
  4. 1 2 Mekeel, Tim. "Alcoa spinoff to be named Arconic, to include Manheim Pike plant". LancasterOnline. LancasterOnline. Retrieved 18 April 2016.
  5. ↑ MILLER, JOHN W. "Alcoa Spinoff Arconic to Focus on Aerospace, Auto". Wall Street Journal. Wall Street Journal. Retrieved 18 April 2016.
  6. ↑ Hall, Jason. "Alcoa Inc Takes Steps Forward in Plans to Split". The Motley Fool. The Motley Fool. Retrieved 25 September 2016.
  7. ↑ Kinahan, JJ. "Alcoa Results Forecast to Drop Ahead of Company Split". Forbes. Forbes. Retrieved 18 April 2016.
  8. ↑ Denning, Liam. "Alcoa's Long Division Problem". Bloomberg. Bloomberg. Retrieved 18 April 2016.
  9. ↑ Deaux, Joe. "Alcoa Processing Unit to Be Named `Arconic' After Split". Bloomberg. Bloomberg. Retrieved 18 April 2016.
  10. ↑ Boselovic, Len. "New Alcoa company christened Arconic". Pittsburgh Post-Gazette. Pittsburgh Post-Gazette. Retrieved 18 April 2016.
  11. ↑ Hackett, Robert. "Meet Arconic: Alcoa's Spinoff Aerospace and Auto Firm". Fortune. Fortune. Retrieved 18 April 2016.

External links


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