Arconic Stops Looking for a Buyer
Arconic is not for sale anymore. The company made the announcement in a press release this morning.
Arconic says it was considering a sale over the past year but didn't receive any offers that were in the best interest of shareholders.
The board of directors and managers were in the process of reviewing the company's strategy and finances.
It also says the sale of one part of Arconic will proceed. That's the Building and Construction Systems business.
The company was created three years ago after Alcoa split into two companies. Arconic makes aluminum parts for the aviation and automotive industries. Arconic's Davenport Works plant in Riverdale, Iowa employs around 2,000 people.