Alcoa streamlines structure

Alcoa Corporation has announced that it is consolidating its business units to reduce complexity. Effective immediately, the aluminium smelting, cast products and rolled products businesses, along with the majority of the energy segment assets, will be combined into a new Alcoa Aluminium business unit (BU). As a result, the company’s three business units are Alcoa Bauxite, Alcoa Alumina and Alcoa Aluminum. “Our strategic goals include reducing complexity, driving returns to create stockholder value and strengthening the balance sheet,” said Roy Harvey, Chief Executive Officer of Alcoa. “Streamlining our number of business units is aligned with those goals, and will increase…