老虎机种类

Separation on track to be completed in the second quarter of 2020

PITTSBURGH--()--Lightweight metals manufacturer 老虎机种类 Inc. (NYSE: ARNC) today announced that 老虎机种类 Rolled Products Corporation (to be renamed 老虎机种类 Corporation upon separation) has publicly filed a preliminary Registration Statement on Form 10 with the U.S. Securities and Exchange Commission (SEC) in connection with 老虎机种类 Inc.鈥檚 pending separation into two standalone, publicly-traded companies. 老虎机种类 Inc. will spin off 老虎机种类 Corporation, which will hold the businesses currently comprising 老虎机种类 Inc.鈥檚 Global Rolled Products segment (Rolled Products, Extrusions, and Building and Construction). The businesses currently comprising 老虎机种类 Inc.鈥檚 Engineered Products and Forgings segment will remain in the existing company, which will be renamed Howmet Aerospace Inc. upon separation. The separation is on track to be completed in the second quarter of 2020.

老虎机种类 Corporation will be a globally competitive aluminum products company, centered on rolled products, extrusions, and architectural products and systems. Its businesses will primarily serve the ground transportation, aerospace, building and construction, industrial, and packaging end-markets. Howmet Aerospace鈥檚 primary businesses will focus on jet engine components, aerospace and industrial fasteners, and structural parts for airplanes and defense, as well as forged aluminum wheels for commercial transportation.

The preliminary Form 10, prepared in accordance with SEC guidelines, includes detailed information about 老虎机种类 Corporation as a standalone company, such as historical financial information, as well as a description of 老虎机种类 Corporation鈥檚 business and strategy and other legal and financial disclosures. This registration statement is subject to change prior to it being declared effective by the SEC.

The separation remains subject to the satisfaction of certain conditions, including obtaining final approval from the 老虎机种类 Inc. Board of Directors, receipt of a favorable opinion of 老虎机种类 Inc.鈥檚 legal counsel with respect to the tax-free nature of the transaction for U.S. federal income tax purposes, completion of financing, and the effectiveness of the Form 10.

A copy of the preliminary Form 10 is available on the SEC website at and can also be viewed on www.arconic.com/sec-filings.

Dissemination of Company Information

老虎机种类 Inc. intends to make future announcements regarding Company developments and financial performance through its website at www.arconic.com.

About 老虎机种类

老虎机种类 Inc. (NYSE: ARNC) creates breakthrough products that shape industries. Working in close partnership with our customers, we solve complex engineering challenges to transform the way we fly, drive, build and power. Through the ingenuity of our people and cutting-edge advanced manufacturing techniques, we deliver these products at a quality and efficiency that ensure customer success and shareholder value. For more information: www.arconic.com. Follow @arconic: , , , and .

Forward-Looking Statements

This release 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," "goal," "guidance," "intends," "may," "outlook," "plans," "projects," "seeks," "sees," "should," "targets," "will," "would," or other words of similar meaning. All statements that reflect 老虎机种类 Inc.鈥檚 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. These statements reflect beliefs and assumptions that are based on 老虎机种类 Inc.鈥檚 perception of historical trends, current conditions and expected future developments, as well as other factors 老虎机种类 Inc. believes are appropriate in the circumstances. Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and changes in circumstances that are difficult to predict, which could cause actual results to differ materially from those indicated by these statements. Such risks and uncertainties include, but are not limited to: (a) uncertainties regarding the planned separation, including whether it will be completed pursuant to the targeted timing, asset perimeters, and other anticipated terms, if at all; (b) the possibility that various closing conditions for the separation may not be satisfied; (c) the outcome of contingencies, including legal proceedings; (d) the impact of the separation on the businesses of 老虎机种类 Inc.; (e) 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 老虎机种类 Inc.鈥檚 resources, systems, procedures and controls, disruption of its ongoing business, and diversion of management鈥檚 attention from other business concerns; and (f) the other risk factors summarized in 老虎机种类 Inc.鈥檚 Form 10-K for the year ended December 31, 2018 and other reports filed with the SEC. 老虎机种类 Inc. disclaims any intention or obligation to update publicly any forward-looking statements, whether in response to new information, future events, or otherwise, except as required by applicable law.

Investor
Paul T. Luther
(412) 553-1950
Paul.Luther@arconic.com

Media
Esra Ozer
(412) 553-2666
Esra.Ozer@arconic.com