US aluminium and lightweight alloys specialist Alcoa on Wednesday filed its initial plan to separate its upstream and downstream business segments with US securities regulators, saying the separation will allow each new company to pursue its own distinct corporate strategy and unlock the full value of each business.
Chairperson and CEO Klaus Kleinfeld hailed the filing of the Form 10 as an “important milestone” as the company prepared to launch two businesses that were “well-positioned for success”.