NYSE-listed specialty alloys manufacturer Arconic announced Wednesday that it has sold about 60% of its 19.9% stake in its former downstream business segment Alcoa Corp for $890-million.
Arconic, which makes lightweight, high-strength parts for the aeronautics and automotive industries, sold 23.35-million shares of the 36.31-million shares it retained in Alcoa at the time of the demerger in November last year.
