Brand reflects iconic heritage, continued commitment to industry-shaping innovation
NEW YORK--(BUSINESS WIRE)--Lightweight metals leader Alcoa (NYSE: AA) today unveiled the name, logo and tagline of its future Value-Add company: “Arconic. Innovation, Engineered.” The future Upstream company will operate under the Alcoa name. The Company’s separation into two, independent, publicly-traded companies in the second half of 2016 remains on track.
The “Arconic” brand represents the future Value-Add company’s iconic heritage and continued commitment to industry-shaping innovation:
The tagline, “Innovation, Engineered,” communicates the company’s mission – to invent, develop and deliver products and solutions for high performance customers and industries through precision engineering and advanced manufacturing.
The logo is a two-dimensional icon that the eye sees as a three-dimensional projection, symbolizing Arconic’s ambition and ability to make what is often deemed impossible real. Its silhouette pays homage to the Alcoa mark, while the color represents the company’s vibrant, dynamic culture.
“The ‘Arconic’ brand fuses our extraordinary heritage with our highly promising future,” said Alcoa Chairman and Chief Executive Officer Klaus Kleinfeld. “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.”
The Company also unveiled a fresh iteration of the Alcoa mark for the Upstream company. With the symbol removed from its enclosure, this new logo represents a transformed and agile Upstream company characterized by out-of-the-box thinking. Its bold, geometric capital “A,” with the sharp apex, signifies an upward trajectory and constant pursuit of stronger performance. Finally, the new Alcoa logo will remain “Alcoa blue,” reflecting the strong foundation upon which the company is built.
“The new Alcoa mark represents a transformed and agile Upstream company: resilient against market down-swings and poised to capitalize on upswings,” said Kleinfeld. “And so, with today’s announcements, we move closer to launching two leading-edge companies, each ready to define and seize the future.”
Both Arconic and Alcoa will be domiciled in the United States and listed on the New York Stock Exchange, Arconic as ARNC and Alcoa as AA. Both will be industry-leading, FORTUNE 500 companies. The Upstream Company will comprise the five business units that today make up Global Primary Products: Bauxite, Alumina, Aluminum, Cast Products and Energy. Arconic will include the three business segments that today comprise Alcoa’s Value Add portfolio: Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions.
A global leader in lightweight metals technology, engineering and manufacturing, Alcoa innovates multi-material solutions that advance our world. Our technologies enhance transportation, from automotive and commercial transport to air and space travel, and improve industrial and consumer electronics products. We enable smart buildings, sustainable food and beverage packaging, high-performance defense vehicles across air, land and sea, deeper oil and gas drilling and more efficient power generation. We pioneered the aluminum industry over 125 years ago, and today, our approximately 60,000 people in 30 countries deliver value-add products made of titanium, nickel and aluminum, and produce best-in-class bauxite, alumina and primary aluminum products. For more information, visit www.alcoa.com, follow @Alcoa on Twitter at www.twitter.com/Alcoa and follow us on Facebook at www.facebook.com/Alcoa.
Forward Looking Statements
This communication contains statements that relate to future events and expectations and as such constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those containing such words as “anticipates,” “believes,” “could,” “estimates,” “expects,” “forecasts,” “intends,” “may,” “outlook,” “plans,” “projects,” “seeks,” “sees,” “should,” “targets,” “will,” “would,” or other words of similar meaning. All statements that reflect Alcoa’s expectations, assumptions or projections about the future other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding the separation transaction; the future performance of the Value-Add and Upstream companies if the separation is completed; the expected benefits of the separation; projections of improved profitability, enhanced shareholder value, competitive position, market share, growth opportunities, revenues, cash flow or other financial items of the companies; the expected timing of completion of the separation; and the expected qualification of the separation as a tax-free transaction. Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and changes in circumstances that are difficult to predict. Although Alcoa believes that the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurance that these expectations will be attained and it is possible that actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks and uncertainties. Such risks and uncertainties include, but are not limited to: (a) uncertainties as to the timing of the separation and whether it will be completed; (b) the possibility that various closing conditions for the separation may not be satisfied; (c) failure of the separation to qualify for the expected tax treatment; (d) the possibility that any third-party consents required in connection with the separation will not be received; (e) the impact of the separation on the businesses of Alcoa; (f) the risk that the businesses will not be separated successfully or such separation may be more difficult, time-consuming or costly than expected, which could result in additional demands on Alcoa’s resources, systems, procedures and controls, disruption of its ongoing business and diversion of management’s attention from other business concerns; (g) material adverse changes in aluminum industry conditions; (h) deterioration in global economic and financial market conditions generally; (i) unfavorable changes in the markets served by Alcoa; (j) the impact of changes in foreign currency exchange rates on costs and results; (k) increases in raw materials and other costs; (l) the inability to achieve the level of revenue growth, cash generation, cost savings, improvement in profitability and margins, fiscal discipline, or strengthening of competitiveness and operations anticipated from restructuring programs and productivity improvement, cash sustainability, technology advancements (including, without limitation, advanced aluminum alloys, Alcoa Micromill, and other materials and processes), and other initiatives; (m) Alcoa’s inability to realize expected benefits, in each case as planned and by targeted completion dates, from acquisitions, divestitures, facility closures, curtailments, or expansions, or international joint ventures; (n) political, economic, and regulatory risks in the countries in which Alcoa operates or sells products; (o) the outcome of contingencies, including legal proceedings, government or regulatory investigations, and environmental remediation; (p) the impact of cyber attacks and potential information technology or data security breaches; (q) the potential failure to retain key employees while the separation transaction is pending or after it is completed; (r) the risk that increased debt levels, deterioration in debt protection metrics, contraction in liquidity, or other factors could adversely affect the targeted credit ratings for the Value-Add company or the Upstream company; and (s) the other risk factors discussed in Alcoa’s Form 10-K for the year ended December 31, 2015, and other reports filed with the U.S. Securities and Exchange Commission. Alcoa disclaims any obligation to update publicly any forward-looking statements, whether in response to new information, future events or otherwise, except as required by applicable law.