American aluminium major Alcoa Corporation announced yesterday a consolidation of business units.
As of yesterday, the aluminium smelting, cast products, rolled products, and the majority of energy assets are all under the umbrella of the new business unit Alcoa Aluminum. The move means that Alcoa is composed of three business units: Alcoa Bauxite, Alcoa Alumina, and Alcoa Aluminum.
“Our strategic goals include reducing complexity, driving returns to create stockholder value and strengthening the balance sheet,” said Alcoa’s CEO Roy Harvey. “Streamlining our number of business units is aligned with those goals, and will increase our operational agility, lower costs, and promote more efficient internal coordination. We will continue to review our company structure and processes to ensure that Alcoa remains resilient through all market cycles.”
Heading up the new business unit will be Tim Reyes, formerly president of Alcoa Cast Products since 2015. Reyes was president of Alcoa Materials Management prior to that assignment.
“Tim has a strong track record of commercial, operational and strategic success that makes him ideally suited to head the new Aluminum BU,” Harvey said. “At Cast Products, he has enhanced its financial performance, improved safety, productivity, operational costs, and employee engagement. He also led the innovation of differentiated products for end market customers, including a new line of sustainable aluminum products. That customer focus, combined with his operational and commercial background, will be invaluable in his new role.”
Martin Briere is exiting the company as a result of the company’s realignment.
“A strong operational professional with deep technical expertise in smelting, Martin helped to restructure our smelting portfolio during a critical period for Alcoa’s aluminum business,” Harvey said. “With responsibility for the smelting center of excellence, he also ensured that best practices were implemented across our smelters. He helped us to achieve our global aluminum cost curve goals, we thank him for his many contributions and wish him well in his new endeavors.”