Arconic Divests its Latin America Extrusions Business
Arconic Corporation (ARNC)
Last arconic corporation earnings: 1/27 06:50 am
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arconic.com/global/en/investors/overview.asp
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Source: Business Wire
Transaction includes Arconic locations in Utinga and Tubarão, Brazil NEW YORK--(BUSINESS WIRE)-- Arconic Inc. (NYSE: ARNC) today announced the divestiture of its Latin America Extrusions (LAE) business, which operates primarily in Brazil. The business is part of the Company’s Transportation and Construction Solutions segment. Following customary regulatory and anti-trust reviews, the ownership of LAE will be transferred to a subsidiary of Hydro Extruded Solutions AS. The deal is expected to close in the first half of 2018. The divestiture is part of Arconic’s continued drive to streamline its business portfolio, reduce complexity and further focus on its higher-margin products and continuous profitable growth. Under the terms of the agreement, Arconic will receive approximately $10 million in cash for the LAE business, subject to working capital and other adjustments. As a result of the t
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