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In June 2016, Alcoa Inc. announced plans to split itself into two companies: Alcoa Inc would be renamed as Arconic and would take over the business of designing and building processed metal parts, primarily for the automotive and aerospace industries; a new company, Alcoa Corporation, would be set up and spun out of the remainder of Alcoa Inc ...
The company was operated as a subsidiary of the Aluminum Ore Company, which was itself a subsidiary of the Aluminum Company of America (Alcoa), to serve the Bayer process bauxite-to-alumina refinery at Alorton, Illinois. Alcoa sold the line to the Missouri Pacific Railroad and Chicago and North Western Railway (CNW) in 1968, [1] and it was ...
The company was acquired by Alcoa on May 3, 2000, to become the largest aluminum company in the United States. [1] [2] On January 21, 2008, Alcoa sold its consumer unit to Rank Group Ltd. Rank's owner, New Zealand billionaire Graeme Hart, renamed Alcoa's former unit the Reynolds Packaging Group. Hart merged his other packaging companies into ...
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These new processes introduced two new challenges to ALCOA; they would need to generate a market and encourage manufacturers to use this new aluminum and they would need to increase production in order to cut costs through economies of scale. WearEver cookware was the method through which these challenges were met.
Alcoa (AA) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.