Arconic Corporation launched as a leader in advanced aluminum sheet, plate, extruded and architectural products that primarily advance the ground transportation, aerospace, industrial, packaging, and commercial building markets. The company’s common stock began trading on the New York Stock Exchange under the ticker “ARNC” on April 1, 2020.
The separation of Arconic Inc. into two standalone companies, Arconic Corporation and Howmet Aerospace Inc. (the new name for Arconic Inc.), took effect through a pro rata distribution by Arconic Inc. of 100 percent of the outstanding shares of the newly formed Arconic Corporation. Arconic Inc. stockholders received one share of Arconic Corporation common stock for every four shares of Arconic Inc. common stock held as of the March 19, 2020 record date. Arconic Inc. shares have become Howmet Aerospace Inc. shares as a result of the name change.
Arconic Corporation will be led by chief executive officer Tim Myers, who was previously the executive vice president and group president of the business segments that now comprise the new standalone company. In conjunction with the launch of Arconic Corporation, its independently endowed charitable arm, Arconic Foundation, will continue to support the preparation of 21st century engineering and manufacturing.
Published in the May 2020 Edition
