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May 24, 2024


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About the Company

Alcoa Corporation (an acronym for "Aluminum Company of America") is a Pittsburgh-based industrial corporation. It is the world's eighth-largest producer of aluminum. Alcoa conducts operations in 10 countries. Alcoa is a major producer of primary aluminum, fabricated aluminum, and alumina combined, through its active and growing participation in all major aspects of the industry: technology, mining, refining, smelting, fabricating, and recycling. Alcoa emerged in 1888 as the brainchild of Charles Martin Hall, with the funding of Alfred E. Hunt and Arthur Vining Davis. Alcoa was the first mass producer of aluminum. Prior to Alcoa's formation, aluminum was difficult to refine, and a result was more expensive than silver or gold. In 1886, Hall discovered the Hall–Héroult process, the first inexpensive technique for refining aluminum, drastically reducing the price of aluminum, while increasing its availability. Hall approached Hunt and Davis to form a company to bring his process to market; the three founded Alcoa as the Pittsburgh Reduction Company, which expanded quickly. Hunt died in 1898 after fighting in the Spanish–American War. The company changed its name to the Aluminum Company of America in 1907. Alcoa increased production 40% during World War I, and was an important supplier of Aluminum in World War II. In the 2000's, Alcoa purchased numerous competitors, including Reynolds Group Holdings (makers of Reynolds Wrap). On November 1, 2016, Alcoa Inc. split into two entities: a new one called Alcoa Corporation, which is engaged in the mining and manufacture of raw aluminum, and the renaming of Alcoa Inc. to Arconic Inc., which processes aluminum and other metals. Alcoa has been criticized for its lax environmental record; in 2010 it was the 15th worst polluter in the United States.

Sector

Manufacturing

Industry

Primary Production of Aluminum

Employees

15102

Exchange

NYSE

$13B

Total Revenue

15K

Employees

$8B

Market Capitalization

-11.34

Price/Earning ratio

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