Alcoa will separate into two companies this year, with one company retaining the Alcoa name and the other—under which Kawneer will operate—will be called “Arconic.”
The new name was unveiled in March.
Diana B. Perreiah, president of Kawneer/Alcoa Building and Construction Systems, sent a letter to customers Monday regarding the split, which was announced last September. She says Alcoa will be divided into two publicly-traded, standalone companies in the second half of 2016.
The one retaining the Alcoa name will be a “leading-edge upstream company,” says Perreiah. The other, Arconic, will operate as a “multi-material, technology and innovation-driven value-add company.”
“We are excited that Kawneer will become part of a company that aims to engineer breakthrough innovation, every day – an ambition that has been part of our culture since Kawneer’s founding in 1906,” she says. However, the Kawneer brand will continue as it operates today, as specifications, products, customer support resources and other processes will remain the same.
According to the company’s initial announcement, Arconic has 157 operating locations globally and approximately 43,000 employees.
In addition to servicing the architectural market with Kawneer, the new value-added company serves the aerospace and automotive industries.
Ken Giacobbe, currently CFO of Alcoa’s engineered products and solutions business, is Arconic’s CFO. Klaus Kleinfeld, Alcoa chairman and CEO, will retain those roles, but with Arconic.
According to a company release in March, the new name was created as follows:
- “The ‘A’ echoes Arconic’s proud Alcoa heritage;
- ‘Arc’ represents the arc of progress and the continued pursuit of advancement for customers, employees, shareholders and communities; and
- ‘-conic’ speaks to the company’s history of creating iconic products and its constant focus on the next breakthrough innovation.”
“The ‘Arconic’ brand fuses our extraordinary heritage with our highly promising future,” says Kleinfeld. “It echoes our 127-year history of invention – and reinvention. Our logo depicts the realm of possibility brought to life. It reflects our vision of limitless innovation solving complex engineering challenges, to transform the way we fly, drive, build, package and power. And it represents the ingenuity of our people, who are dedicated to inventing, developing, and delivering high-quality, innovative products and solutions that contribute to our customers’ success and create shareholder value.”
I realize that Alcoa is a multi-national company and it’s tough finding a name that works well everywhere. But the first time I saw the name I thought Arsonic.
Kawneer now part of Arconic a company with breakthrough innovations. Arconic just eliminated company-provided life insurance for Kawneer’s retired employees, some innovation. Kenneth Gamble’s name for the company, “Arsonic”, appears to be a better fit.
Kawneer Retiree