Alcoa Due Diligence: Two Separate Public Companies - BrokerBank Securities
NEW YORK, Sept. 29, 2015 /PRNewswire/ -- Alcoa Inc. (NYSE-MKT: AA) shares closed at $9.52 in yesterday's session, up 5.73%. The company announce they are splitting the company in two. This will result in one half that consists of mining and aluminum production. The other half will service the auto, aerospace, castings, titanium, and high strength aluminum and aircraft industries. As a result share volume was more than double the three month average at 59 million shares.
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About Alcoa, Inc.
Alcoa Inc. produces and manages primary aluminum, fabricated aluminum, and alumina worldwide. The company operates through four segments: Alumina, Primary Metals, Global Rolled Products, and Engineered Products and Solutions. The Alumina segment is involved in mining bauxite, which is then refined into alumina. The Primary Metals segment produces primary aluminum. The Global Rolled Products segment produces and sells aluminum plates, sheets, and foils, as well as rigid container sheets for food and beverage packaging markets. The Engineered Products and Solutions segment offers titanium, super alloy investment, and aluminum castings; fasteners; aluminum wheels; integrated aluminum structural systems; architectural extrusions; and forgings and hard alloy extrusions.
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SOURCE BrokerBank Securities, Inc.
