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INDUSTRY NEWS Aluminum Giant Alcoa to Split Into Two Companies


Alcoa Inc., Pittsburgh, Pa., an- nounced it would split into two publicly traded companies, splitting the firm’s casting and fabrication units from materials operations. Te raw materials business—including bauxite mining, alumina refining and aluminum produc- tion—will retain the Alcoa name. Te second company will be the company’s “value-added business,” including its metalcasting operations. “We’ve worked very hard on chang- ing the setup of both of these business-


es,” said Klaus Kleinfeld, CEO, Alcoa. “All of this has led to a structure of both firms to really be competitive and be able to run on their own.” Mr. Kleinfeld will become CEO of the value-add company and act as chairman for both companies. According to the Wall Street Journal, the value-added company would have had $14.5 billion in revenue in the year ended June 30, while the raw metals division would have had revenue of $13.2 billion.


Alcoa’s aerospace and automotive di-


visions have been driving profit recently as demand for aluminum components has increased. Alcoa has benefited from Ford Motor Co. and other major OEMs buying aluminum parts as light- weight alternatives to comply with new fuel-efficiency regulations. Te deal, which is expected to be


tax-free for shareholders, is expected to close in the second half of 2016. Alcoa shareholders will own all outstanding shares of both companies.


Sakthi Group Breaks Ground on $31.8 Million Expansion On October 19, Sakthi Automo-


tive Group USA Inc., a division of the India-based Sakthi Group, broke ground on a $31 million alumi- num casting facility in Detroit. Te 70-acre manufacturing campus is expected to be completed in 2017 and create 350 new jobs. “It’s a special day,” said Detroit May- or Mike Duggan. “Everything about Detroit’s recovery starts with a job.”


Te expansion, including the aluminum casting operation, will be used for manufacturing, machin- ing, advanced worker training and employee wellness programs. Te project has been awarded a $3.5 million performance-based grant from the Michigan Economic De- velopment Corporation (MEDC). MEDC and the city of Detroit also will recommend the approval


of a Michigan Strategic Fund- designated Renaissance Zone for the expansion at a later date. Te city has offered support to the project in the form of a proposed property tax abatement. Sakthi is a supplier of safety


critical components like steer- ing knuckles, control arms, brake drums, brake discs and brake calipers.


Iron Caster Gnutti Carlos USA Opens Machine Shop in Alabama On October 13, engine component


manufacturer Gnutti Carlo USA offi- cially opened a 64,000-sq.-ft. machine shop in Jacksonville, Ala., alongside its iron casting facility. Te multi-million dollar expansion project included the closure of the company’s plant in New Jersey to consolidate operations at a single U.S. site. “We have invested here in Alabama


more than $9 million between the foundry and machine shop,” said Paolo Groff, CEO, Gnutti Carlo. “We still believe this site has significant potential.” Te metalcasting facility currently


employs more than 180 people, with an additional 20-30 positions expected to be filled in the near future. Alabama Governor Robert Bentley toured the newly opened machine shop and deliv- ered a speech to visitors and employees. “Tis is a great plant, great company


and we’re proud to have them here in Jacksonville,” said Gov. Bentley.


Alabama Governor Robert Bentley (center, with scissors) toured the newly opened machine shop. Gnutti Carlo USA, formerly known


as Shelco Foundries, casts ductile and gray iron components such as supports, camshaft thrust plates, brackets and


exhaust flanges. Its customers include many major OEM manufacturers including Caterpillar, Ford Motor Co. and General Motors Corp.


November 2015 MODERN CASTING | 11


Photo courtesy Gov. Bentley, governor.alabama.gov.


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