NEW YORK ― America’s biggest aluminum producer Alcoa Inc. said it plans to reorganize its midstream Global Rolled Products businesses to tap growth opportunity in emerging markets.
The business will now focus on five global markets — aerospace, ground transportation, packaging, consumer electronics and defense.
“We believe even better returns are possible by changing from a regional approach to a market approach,” said CEO Klaus Kleinfeld.
The company said the shift to a market-based structure is effective immediately.
The new organization will focus on China, Russia, Brazil and the Middle East, the company said in a statement.