Reuters: Alcoa to split into two companies

Alcoa Inc (AA.N) said on Monday it will split into two companies to separate its struggling aluminum smelting operations from production of lightweight metals for its faster-growing aerospace and automotive business.

Alcoa's Tennessee Operations last week launched production at their $300 million automotive aluminum expansion. It will employ about 200 full time workers.

The company shut down its Alcoa TN South Plant smelting operations in 2012 but operates an extensive recycling operation. The Tennessee plant produces aluminum can sheet for beverage cans, and now automotive aluminum. Prior to the automotive expansion, Alcoa employed about 1,200 workers.

Official company press release: Alcoa to Separate into Two Industry-Leading Public Companies, Completing Successful Multi-Year Transformation