Alcoa’s spinoff plan concern Alumina

An Alcoa aluminum plant in Alcoa, Tennessee is seen in this April 8, 2014 file photograph. REUTERS/Wade Payne/Files

Australia’s Alumina said it has “serious concerns” about the impact of a demerger plan of U.S. partner Alcoa on the pair’s bauxite and alumina production joint venture, Alcoa Worldwide Alumina and Chemicals. Alumina is concerned that the plan would “result in a material adverse change in the nature, size, scope and financial wherewithal of Alumina’s partner in AWAC.”

As a reminder, Alcoa’s plan to separate its plane and car parts business under the name Arconic, while its traditional aluminum smelting operations, including its 60 percent stake in AWAC, would retain the Alcoa name. Read more…

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