Arconic Corp sells its aluminum business in Russia and finally leaves Russian market

The American corporation Arconic, engaged in the production of aluminum products, has finally withdrawn from the market of the Russian Federation. The company sold its enterprises to the Russian state metallurgical company VSMPO-AVISMA for $230 million.

"Operating in Russia has only become more difficult, and our ability to operate in the future is increasingly uncertain in light of the current geopolitical environment," said the company's chief executive officer, Tim Myers.

In March 2022 Arconic suspended new contracts in Russia. Two months later, it became known that the company would sell its business in the Russian Federation, the expected cost of which was $500 million.