Howmet Aerospace Inc. officially split from Arconic to become an independent company.  Howmet Aerospace will start trading today on the New York Stock Exchange under the ticker “HWM.”

In 2019, the businesses comprising Howmet Aerospace – including the former Alcoa Fastening Systems and Rings – generated more than $7 billion in revenue, up 5% from the prior year, with more than 70% of Howmet’s revenue derived from the aerospace market.  Operating profit increased 26% to $1.39 billion, while profit margin gained 330 basis points to 19.6%.

The new company, composed of engine products, fastening systems, engineered structures and forged wheels businesses, is led by co-CEOs John C. Plant, who will also serve as board chairman, and Tolga Oal, who previously served as president of Arconic Engineered Structures.

“Today is the culmination of a year of focus and hard work by our team to establish a strong and competitive company,” Plant stated.  “We will build on that work and continue to serve our customers with precision-engineered and highly innovative products.”

Headquartered in Pittsburgh, Howmet Aerospace’s primary businesses focus on jet engine components, aerospace fastening systems and titanium structural parts for aerospace and defense applications, as well as forged wheels for commercial transportation.  Web: howmet.com

Arconic was formed in 2016 after Alcoa’s board approved a plan to separate Alcoa into two independent, publicly-traded companies.