Arconic to Sell Russian Operations, Take $500 Million Charge
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Arconic Corp. said it will sell its Russian operations, joining the exodus of US companies after the invasion of Ukraine made doing business in the region “untenable.”
The Pittsburgh-based aluminum-sheet manufacturer expects to record a charge of as much as $500 million related to the move. Arconic decided to sell its facility in Samara, Russia, following a review of strategic alternatives prompted by limitations imposed by the country’s government, according to a statement Thursday.