Alcoa CEO: Company Split to Create Separate 'Value Engines'

SUGAR LAND--September 29, 2015--Researched by Industrial Info Resources (Sugar Land, Texas)--Aluminum giant Alcoa (NYSE:AA) (New York, New York) announced Monday that it will split into two stand-alone companies. The move will allow for a cost-competitive metals mining and production company to take advantage of growing global demand for aluminum, and for an innovation- and technology-driven company to meet the needs of the jet engine, automotive and construction industries, according to Chief Executive Officer Klaus Kleinfeld. Industrial Info is tracking 43 active Alcoa projects worth $7.13 billion.

Within this article: Details on Alcoa's decision to split into an upstream production company and a company specializing in value-added products and solutions, with information on active projects such as a possible aluminum smelter in Greenland.