Aluminum producer Alcoa Inc said on Thursday its split into two publicly traded companies is expected to be effective November 1, after the company's board approved the separation.
Alcoa said last year it would break itself in
Alcoa Inc and Alumina Ltd have settled a dispute and agreed to reshape their joint venture, removing an obstacle to Alcoa's plan to split into two companies and making its Australian partner a more attractive takeover target.
Alcoa on Monday reported a lower quarterly net profit, with falling aluminium and alumina prices pressuring revenue while plant operations have been scaled back ahead of a spinoff of its traditional smelting business later this year.
Metals company Alcoa Inc said on Wednesday that its planned split will consist of a spinoff of its traditional upstream smelting business, and that up to 19.9 percent of the new company will be owned by its value-added business that serves the a
Alcoa Inc said it had got a contract to supply titanium to Lockheed Martin Corp's F-35 Lightning II aircraft.
The contract has an estimated value of about $1.1 billion, the company said on Wednesday.
The Saudi Arabian Mining Company (Ma’aden) and lightweight metals leader Alcoa have achieved a major milestone with the production of the first alumina at their joint venture aluminum complex in Ras Al Khair, Saudi Arabia.
Alcoa reported a stronger-than-expected increase in third-quarter profit as higher aluminum prices and lower costs drove a recovery in its business unit that produces aluminum.
In the third quarter, the US company's net income
Saudi Arabian Mining Company (Ma'aden) said on Monday its $10.8 billion joint aluminium smelter with US-based Alcoa has started commercial operations.
The aluminium plant at Ras al-Khair, on the Gulf coast of the kingdom, had
Alcoa has agreed to pay $384 million to settle charges by the US Securities and Exchange Commission and the US Department of Justice that its subsidiaries bribed foreign government officials, the agencies said on Thursday.
Aluminium producer Alcoa Incorporated said the smelter at Ma'aden, Saudi Arabia, which is in its start-up phase, has temporarily stopped production on one of two potlines.
The company said the potline was s