Arconic, which includes Alcoa’s former $1.8 billion Fastening Systems and Rings business, is on track to separate its portfolio businesses by the second quarter of 2020. Engineered Products and Forgings (engine components, fastening systems, and engineered structures) and forged aluminum wheels will remain in the existing company, which will be renamed Howmet Aerospace upon separation.

Global Rolled Products and Construction Systems will operate in a company that retains the Arconic name. 

Recently Arconic reported third-quarter Engineered Products and Forgings (EP&F) revenue, including fasteners, increased 7% to $1.8 billion, which included 8% organic sales growth “driven by aerospace engine, defense and commercial transportation growth.”

Operating profit in the EP&F segment, which includes Alcoa’s former $1.8 billion Fastening Systems and Rings business, rose 28% to $363 million, driven by “volume increases, favorable pricing, lower raw material costs and net cost reduction” Segment operating margin climbed 330 basis points to 20.2%.

Consolidated Arconic revenue rose 1% to $3.6 billion in Q3, including a 6% increase in organic revenue. Operating income declined 5.5% to $326 million, while net income fell 41% to $95 million.

During the first nine months of 2019, EP&F revenue grew 6.6% to $1.79 billion, while operating profit improved 28% to $363 million. Nine-month capital expenditures dropped 46% to $62 million. Web: Arconic.com