Alcoa Reorganizes Midstream Businesses

Reuters reported that Alcoa Inc (NYSE:AA) plans to reorganize its midstream Global Rolled Products businesses to encourage growth opportunity in emerging markets.

The market news is quoted as saying:

The business will now focus on five global markets — aerospace, ground transportation, packaging, consumer electronics and defense.

“We believe even better returns are possible by changing from a regional approach to a market approach,” said Chief Executive Officer Klaus Kleinfeld. The new organization will focus on China, Russia, Brazil and the Middle East, the company said in a statement.

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