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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

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...

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