ALCOA unveils new company's name: Arconic

The new Value-Add company that will be formed when ALCOA Inc. splits in two later this year will be named Arconic.

ALCOA announced the new name in a press release Tuesday, saying the brand represents the future company’s “iconic heritage and continued commitment to industry-shaping innovation.”

The lightweight metals maker first announced its plans to split into two independent publicly-traded companies last September. The separation is scheduled to take place in the second half of 2016. Blount County-based ALCOA Tennessee Operations will be part of Arconic.

ALCOA explained the significance of the new name in the press release: “The ‘A’ echoes Arconic’s proud ALCOA heritage; ‘Arc’ represents the arc of progress and the continued pursuit of advancement for customers, employees, shareholders and communities; and ‘-conic’ speaks to the company’s history of creating iconic products and its constant focus on the next breakthrough innovation.”

Arconic’s tagline will be “Innovation, engineered.”

“We are excited by the launch of a new brand — ‘Arconic’ — that reflects both our iconic heritage and continued commitment to industry-shaping innovation. We will begin operating under the new brand later this year, at separation; until then, it is business as usual at ALCOA,” said Ken McMillen, Tennessee Operations location manager. “And after separation, we will remain committed to the traditions that make our employees proud to come to work every day: a laser focus on safety, exceeding customer’s expectations and being engaged members of our East Tennessee community.”

Name fuses company’s heritage and future

The future Upstream company will continue under the ALCOA name. That company will be comprised of the five business units that currently make up ALCOA’s Global Primary Products: Bauxite, Alumina, Aluminum, Cast Products and Energy.

Arconic will focus on engineered products, and have the three business segments that currently make up ALCOA’s Value-Add portfolio: Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions.

“The ‘Arconic’ brand fuses our extraordinary heritage with our highly promising future,” said ALCOA Chairman and CEO Klaus Kleinfeld, who will lead Arconic after the split. “It echoes our 127-year history of invention — and reinvention. Our logo depicts the realm of possibility brought to life. It reflects our vision of limitless innovation solving complex engineering challenges, to transform the way we fly, drive, build, package and power. And it represents the ingenuity of our people, who are dedicated to inventing, developing and delivering high-quality, innovative products and solutions that contribute to our customers’ success and create shareholder value.”

Both companies will be based in the U.S. and listed on the New York Stock Exchange. Arconic will be listed as ARNC and ALCOA as AA.

ALCOA Inc. by any other name

City of Alcoa officials reacted favorably to the new name on Tuesday, but said they didn’t foresee any motions to change the name of the city along with the company.

“I don’t see any possible reason for changing the city name,” Mayor Don Mull said, laughing.

Mull said he thinks the company’s new name will work out well and that the city is proud it is located here.

“They’re such a part of our community, it’s just great to see them expand what they have done over here with the automotive section. That’s a real plus for the community,” Mull said. “We’re looking forward to the changeover and don’t foresee any real changes (at the plant) other than the name.”

Mull and City Manager Mark Johnson acknowledged that it may be hard for longtime residents and people who grew up here to give up the ALCOA company name.

“I think the aluminum company is still going to be the aluminum company aka ALCOA, and certainly it’s not going to have any effect on the city’s name or history or what happens going forward,” Johnson said.

They may not share a name for much longer, but Johnson said the long working relationship between the city and the aluminum company won’t change.

“I’m glad they’re moving forward and being as successful as they are, and we’ll be glad to have them operating under whatever name they have for a long, long time,” Johnson said.