HUTCHINSON, Kan. — After a split in what was originally Alcoa, leadership changes, a failed buyout and a major downturn in production from Boeing, Arconic Corporation launched its new company after dividing itself into two separate entities in March.
The separation of Arconic Inc. into two standalone companies — Arconic Corporation and Howmet Aerospace Inc. — took effect at the start of the month. The Hutchinson facility retains the Arconic name.
Arconic Corporation will be led by Chief Executive Officer Tim Myers, who was previously the executive vice president and group president of the business segments that now comprise the new standalone company.
In 2019, these businesses generated $7.3 billion in revenue. But the company also laid off a number of workers at the Hutchinson finishing plant when Boeing and then Spirit Aerosystems shut down production of the 737 MAX aircraft.