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| Company type | Private |
|---|---|
| Industry | Manufacturing |
| Founded | April 1, 2020 in Pittsburgh, Pennsylvania[1] |
| Headquarters | , U.S. |
Key people | Chris Ayers (CEO) |
| Revenue |  US$8.96 billion[3] (2022) |
| US$−47 million[3] (2022) | |
| US$−182 million[3] (2022) | |
| Total assets |  US$6.02 billion[3] (2022) |
| Total equity | US$1.36 billion[3] (2022) |
| Owner | Apollo Global Management (2023–present) |
Number of employees | 11,550 (2022)[3] |
| Website | arconic |
Arconic Corporation is an American industrial company specializing in lightweight metals engineering and manufacturing. Its products are used worldwide in aerospace, automotive, packaging, oil and gas, building and construction,[4] defense, commercial transportation, consumer electronics, and industrial applications.
The business today known as Arconic was originally part of Alcoa Inc. The name Arconic was first used in 2016 when Alcoa Inc. was separated into two companies, Alcoa Corporation and Arconic Inc. Arconic Inc. was further separated in 2020 into Howmet Aerospace Inc., focused on engineered products, and Arconic Corporation, focused on rolled aluminium products. On August 18, 2023, private equity firm Apollo Global Management completed the acquisition of Arconic.[5]
In 2024, the official inquiry into the 2017 Grenfell Tower fire in London, which killed 72 people, identified Arconic cladding as "by far the largest contributor" to the disaster. The company was found to have deliberately concealed the known fire risks, with the company's president, Claude Schmidt, admitting that Arconic obtained safety certification for the cladding in the UK through a "misleading half-truth."[6]
- ^ Cite error: The named reference
WSJ April 1was invoked but never defined (see the help page). - ^ "Arconic Inc. Current Report, Form 8-K, Filing Date May 17, 2019". SEC.gov. Retrieved June 24, 2019.
- ^ a b c d e f "2022 Annual Report (Form 10-K)". SEC. 21 February 2023.
- ^ Kirkpatrick, David D. (June 19, 2017). "U.K. Officials Said Material on Tower Was Banned. It Wasn't. - The New York Times". The New York Times. Retrieved June 22, 2017.
The material in the exterior cladding consisted of insulation sandwiched between two sheets of aluminum. The type used at Grenfell Tower is made under the Reynobond name by Arconic, a company spun off from the aluminum giant Alcoa last year.
- ^ "Arconic Completes Transaction with Apollo Funds". Arconic. Retrieved 2023-08-26.
- ^ Butler, James (2022-10-20). "'This much evidence, still no charges'". London Review of Books. Vol. 46, no. 19. ISSN 0260-9592. Retrieved 2024-10-01.