Arconic Inc. (NYSE: ARNC), New York, NY, plans to divest its Fusina, Italy, rolling mill to Slim Aluminium, an Italy-based rolling mill business. The transaction is part of Arconic Global Rolled Products’ 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 $60 million after tax.
Arconic Inc. (NYSE: ARNC), New York, NY, has announced the divestiture of its Fusina, Italy rolling mill to Slim Aluminium, an Italy-based rolling mill business. The transaction is part of Arconic Global Rolled Products’ 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 $60 million after tax. The charges primarily relate to the non-cash impairment of the net book value of the business as well as the injection of $10 million in cash into the business prior to its sale.
