Arconic announced in its Fourth Quarter 2018 Highlights that the portfolio will be separated into Engineered Products & Forgings and Global Rolled Products, with a spin-off of one of the businesses.

In addition, the Company will also explore the potential sale of businesses that do not best fit into Engineered Products & Forgings or Global Rolled Products.

The Company also intends to execute its previously authorised $500 million share repurchase program in the first half of 2019. The Board has also authorised an additional $500 million of share repurchases, effective through the end of 2020.