Arconic’s planned split set for April 1; Arconic Davenport Works to keep name
BPC Staff Jan 28, 2020 | 5:25 pm
1 min read time131 wordsAll Latest News, Iowa News, Manufacturing & Logistics
Quad-City Times: Arconic plans to split into two separate companies on April 1, company officials said Monday during an earnings call with reporters. The aluminum manufacturer operates Arconic Davenport Works in Riverdale, just east of Davenport. Arconic Corp. will be spun off to include global rolled products while Howmet Aerospace will remain as the main company with aerospace operations. This comes just a few years after Arconic was formed, after it split off from parent company Alcoa. The Davenport Works facility will remain under the Arconic Corp. name. Arconic on Monday reported higher fourth-quarter earnings but lower earnings for full-year 2019. The company is a supplier for the Boeing 737 Max and said it has taken about a $400 million revenue hit as a result of the grounding of the plane.