Arconic Inc., headquartered in New York City, has reported its financial results for the fourth quarter and full year of 2018 and announced a restructuring of the company into two separate firms.
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, Arconic Chairman and Chief Executive Officer John Plant says. The board sees more shareholder value creation through a restructuring of the company. 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…
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