Arconic shareholders approve acquisition

Published: Jul. 25, 2023 at 2:44 PM EDT
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MASSENA, New York (WWNY) - Arconic’s sale to a private equity firm goes through.

Apollo Global Management struck a deal with Arconic in May worth $5.2 billion.

Arconic announced Tuesday that shareholders have approved the sale.

In the spring, Apollo said it was committed to investing “significant capital” in Arconic.

Arconic makes precision-engineered products out of aluminum.

Local economic officials will be waiting to see if the Massena plant gets that investment, and how it fits into Apollo’s portfolio.

There are 125 workers at the Massena plant.

The transaction is expected to close in the third quarter of 2023.