Alcoa Spinoff Arconic Will Center on Aerospace & Automotive Market

Alcoa Inc. announced the name of its new spinoff: Arconic. It announced the split in September in a bid to increase its cumulative stock-market value, which has been under pressure from flailing raw aluminum prices and pressure from a glut of Chinese exports in key markets.

The new company will focus on making multi-alloy manufactured goods for the aerospace (fastener, jet engine, gas turbine blade, etc.) and automotive sectors (truck wheel rim, etc.), which for now is a more-lucrative business than smelting.