Metal manufacturer Alcoa (NYSE: AA), New York, NY, plans to separate into two independent, publicly-traded companies – an upstream company and a value-add company.
The globally competitive upstream company, which will operate under the Alcoa name, will comprise five business units that today make up global primary products – bauxite, alumina, aluminum, casting and energy.
The value-add company, which will be named prior to closing, will include global rolled products, engineered products and solutions, and transportation and construction solutions.
“In the last few years, we have successfully transformed Alcoa to create two strong value engines that are now ready to pursue their own distinctive strategic directions,” said CEO Klaus Kleinfeld.
