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Investors sceptical as Alcoa splits into two

Separating the growing products business will expose its legacy unit already reeling from poor commodity prices

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For Mr Kleinfeld, the split marks the culmination of a strategy he pursued since taking the reins in 2008: relentlessly emphasising value-added products while rationalising a commodity business that was once the world's largest by volume.

New York

FOR most of its 127 years, Alcoa Inc has done two things: it's made aluminium, and it's made stuff out of aluminium. Now Klaus Kleinfeld wants to change that with a bold - and potentially risky - plan to cleave the aluminium giant in two.

A symbol of American industrial