Howmet Aerospace began trading on the New York Stock Exchange earlier this month, having separated from Arconic Inc.
Howmet Aerospace (HWM) supplies engine products, fastening systems, engineered structures and forged wheels for the aerospace sector and is currently helping produce more fuel-efficient, quieter aerospace engines and sustainable ground transportation, it said.
The Howmet business has been around for over 90 years and in 2019 it had an annual revenue of over $7 billion. Over 70% of revenue came from the aerospace market. After a number of acquisitions over the years, it became part of Alcoa in 2000 (Alcoa split into Alcoa and Arconic in 2016).
“Howmet Aerospace, an iconic and storied brand in the aerospace industry, today launches as a standalone company,” said Co-CEO John C Plant. “With strong market positions, differentiated technology and collaborative relationships across our customer base, the Company is well-positioned to benefit from a strong and growing aerospace market.
“Today is the culmination of a year of focus and hard work by our team to establish a strong and competitive company. We will build on that work and continue to serve our customers with precision-engineered and highly innovative products.”