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Arconic to split into two companies by 1 April

27 January 2020
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US aircraft parts supplier Arconic said on 27 January that it expects to finish dividing itself into two stand-alone, publicly traded companies by 1 April.

Arconic also said that the two new companies – Howmet Aerospace and Arconic Corporation – have scheduled investor days for 25 February in New York.

The split update came as Arconic reported that its revenue declined 2% to USD3.4 billion in the fourth quarter of 2019 compared with the same period a year earlier, while net income jumped 42% to USD309 million. For the full year, revenue rose 1% to USD14.2 billion, while net income fell 27% to USD470 million.

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