Alcoa to Split Into Two Public Companies

The Toronto Star reported that Alcoa (NYSE:AA) expects to split into two publicly traded companies. One would focus on aluminum production, while the other would focus on automotive and aerospace products, the news outlet said.
As quoted in the publication:

The Alcoa name will remain with the metals company that does mining, refining and aluminum production at 64 plants worldwide.

The company’s announcement didn’t specify locations for those upstream operations and their 17,000 employees, but Alcoa currently has significant production capacity in the province of Quebec.

The other company, yet to be named, will have 157 locations and 43,000 employees that will provide high-performance products. About 40 per cent of its revenues have come from the aerospace market.