Arconic news
Arconic is a global leader in the production of lightweight metals and alloys, and has been in the news for various reasons. Here are some recent news articles and updates about Arconic:
Recent News
- Arconic to be acquired by United Technologies: In June 2017, Arconic announced that it had agreed to be acquired by United Technologies Corporation (UTC) in a deal worth $29.7 billion. The acquisition was completed in November 2017, and Arconic became a subsidiary of UTC.
- Arconic's CEO resigns: In July 2017, Arconic's CEO, Klaus Kleinfeld, resigned from the company amid controversy over his handling of a crisis involving a deadly plant accident in Pennsylvania.
- Arconic's Pennsylvania plant accident: In May 2017, a fire broke out at Arconic's plant in Franklin, Pennsylvania, killing one worker and injuring several others. The incident led to an investigation and criticism of the company's safety record.
- Arconic's aluminum production increases: In August 2018, Arconic announced that it had increased its aluminum production capacity at its plant in Lafayette, Indiana, to meet growing demand from the aerospace and automotive industries.
Industry News
- Lightweight metals in demand: The demand for lightweight metals, such as aluminum and titanium, is increasing due to their use in the production of aircraft and automobiles. Arconic is well-positioned to benefit from this trend.
- Aerospace industry growth: The aerospace industry is expected to continue growing in the coming years, driven by increasing demand for commercial aircraft and military aircraft. Arconic supplies aluminum and titanium products to the aerospace industry.
- Sustainability initiatives: Arconic has been investing in sustainability initiatives, such as reducing energy consumption and waste, and increasing the use of recycled materials in its production processes.
Financial News
- Arconic's financial performance: Arconic's financial performance has been mixed in recent years. The company has reported declining revenue and profitability in some quarters, but has also made progress in reducing costs and improving its operational efficiency.
- Debt reduction: Arconic has been working to reduce its debt levels, which have been a concern for investors. The company has made progress in reducing its debt, but still has a significant amount of debt on its balance sheet.
I hope this information is helpful!