Arconic (ARNC) Divests Fusina, Italy Rolling Mill
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Arconic Announces Divestiture of its Fusina, Italy Rolling Mill
April 6, 2017 5:20 PM EDTNEW YORK--(BUSINESS WIRE)-- Arconic Inc. (NYSE: ARNC) today announced the divestiture of its Fusina, Italy rolling mill to Slim Aluminium. The transaction follows a thorough review process and is part of Arconic Global Rolled Products (GRP) continued drive to convert the business from a commodity producer to a high-margin aerospace and automotive supplier.
Arconic expects to record restructuring-related charges representing the loss on sale of approximately $60 million after tax, or $0.12 per diluted share, in its Statement of Consolidated Operations for the first quarter of 2017. The charges primarily relate to the... More
