[miningmx.com] – INTEGRATED aluminium business Alcoa is to break up into two in an effort to unfetter its faster growing plane and car business from its traditional aluminum smelting operations, said Reuters.
“We are interested in creating value for our customers, for our shareholders, for our employees, and at this point this is the option we see that creates the biggest value,” CEO Klaus Kleinfeld told Reuters.
Alcoa is the latest company to seek a fundamental restructuring in response to the commodity price slump which has seen its share price fall 42% this year amid a surge in Chinese aluminium exports.
Earlier this year BHP Billiton demerged its smaller businesses into South32 whilst General Electric and Hewlett-Packard have also broken up their businesses in order to add shareholder value.
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