HUTCHINSON, Kan. — Amid a potential split of its companies and facing a slow down due to outside events, Arconic posted mixed numbers in the fourth quarter.
The aluminum parts maker reported revenue of $3.4 billion, a drop of 2% year-over-year, although net income was higher at $234 million compared with $162 million in 2018.
For the year Arconic’s total revenue of $14.2 billion an increase of 1%.
Arconic which became a spin-off of Alcoa is preparing to split into two entities. It’s also facing pressure from the production shut down of the 737 Max which is working its way through Arconic and could have some effect on Hutchinson which employs about 75 workers at the finishing plant.
The Company expects the separation to be completed before the opening of the market on April 1. One entity will be renamed Howmet Aerospace Inc. and Arconic Corporation will be the other new company. That portion will include the Hutchinson plant.