Klaus Kleinfeld

Parties Bury the Hatchet in Malicious Mêlée for Control of Arconic’s Board

Parties Bury the Hatchet in Malicious Mêlée for Control of Arconic’s Board

The bilious battle between value-added aluminium titan Arconic and activist investor Paul Singer ended in a truce yesterday, as an agreement between the parties was announced for shareholder approval. Per the agreement, Arconic agrees to Elliot Management’s appointment of Christopher L. Ayers,...

Kleinfeld Steps Down At Arconic

Arconic CEO Klaus Kleinfeld abruptly resigned on Monday after enduring weeks of pressure from activist investment firm Elliot Management. According...

Arconic Lands Five-Year, US$1 BN Supply Contract with Airbus

Arconic Inc. announced the first major contract of its new life as a value-add company yesterday. The firm has agreed to a five-year, US$1-billion deal to provide aluminium sheet and plate to French multinational aviation firm Airbus SAS. According to Arconic, the deal will have them producing aluminium sheet and plate for the entirety of […]

Alcoa Completes Corporate Split

Alcoa Incorporated completed its long-awaited split yesterday, as Alcoa Corporation began as a stand-alone entity specializing in aluminium’s upstream sector, and Alcoa Inc. began operating under the name Arconic Inc., a firm that focuses upon value-added aluminium, as well as nickel and titanium products. The split was accomplished yesterday via a pro-rata distribution of 80.1 percent […]

Alcoa’s Final Quarterly Numbers Before Split Are Up

American aluminium major Alcoa released earnings for the third quarter of 2016 yesterday. The firm turned in a strong quarter and, as its separation into two distinct companies takes effect in less than a month, this is the last full quarter for Alcoa as a single company. Alcoa’s results reflected a year-on-year profit growth for […]

Alcoa Split to Occur on November 1

American aluminium major Alcoa declared that the long-awaited split into separate value added and upstream entities will occur on November 1, 2016. The date was set after Alcoa’s board of directors approved the overall separation plan. Alcoa’s separation will be carried out by a pro rata distribution by Alcoa Inc. of 80.1 percent of Alcoa’s […]