Tuesday, September 29, 2015

Alcoa decides to separate into two companies

Alcoa, which has been hampered by the fall in the prices of aluminum, reported yesterday that it will split into two companies. In the Division, a company will be created to bring together the assets of production of aluminium and other light metals-oriented used in industry.
The Division of the group must be completed in the second half of 2016. As a result, the separation will create a cyclical commodities company that thrives during demand spikes and a high-tech company that benefits from the increased interest by new metal alloys and titanium used in airplanes and cars.
The aluminum Group's business will continue under the name Alcoa. The new company will come up with the Division hasn't had brand set.
In March this year, Alcoa had already decided to stop the production of primary aluminum in Brazil, an activity electricity-intensive industries that has suffered with the strong rise in the costs of electricity in the country.
According to Milton Rego, President of the Brazilian Aluminum Association (Abal), lives his worst-case scenario of the last 30 years. "We are on the edge of survival. If this situation does not change soon, in two years we can reach the point of no longer an industry even of aluminum in the Country. "
For this year, what is expected is a situation even worse, with only 780 tonnes of primary aluminum produced, same volume as the Brazil delivered in 1985. Last year, the volume reached 962 tonnes.
DCI News Item translated automatically
Click HERE to see original
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