According to Timothy Donald Myers, CEO of Arconic, the strong end-use demand in the industrial and packaging industry was not enough to fully offset the loss caused by weak shipments in the aviation field.
In the fourth quarter of 2020, Arconic’s aluminum sales dropped by 14% year on year to US$1.5 billion. During the period, the firm’s sales in the aviation sector had a year-on-year decrease of around 60%, while the shipment in the industrial and packaging field rose by 7% year on year.
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