HUTCHINSON, Kan. — Arconic confirmed plans first announced in February that it will split its portfolio into two separate companies. One will be a spin-off.

The split will take Engineered Products & Forgings and Global Rolled Products in separate directions. One business will be divested from Arconic. Any decision on how that spin-off will affect the Hutchinson rolled products facility and its 75 employees is still not known.

A press release from the company stated that the two public companies will be headquartered in Pittsburgh. The Global Rolled Products, which will include the Hutchinson facility, will comprise rolled aluminum products and aluminum extrusions. The Engineered Products & Forgings business will include engine components, fastening systems and engineered structures. The company is targeting the initial filing in the fourth quarter of 2019 and the completion of the separation in the second quarter of 2020.

The company’s decision to separate its portfolio comes after rejecting a $10 billion offer for the entire company and abruptly replacing its chief executive. The company has also slashed its operating costs by approximately $200 million on an annual basis and cut back pension and retirement plans for non-union workers in an effort to strengthen the company’s bottom line.

Despite all of the infighting and other detrimental news over the past year, the aluminum company posted very strong first quarter numbers. The company reported revenue of $3.5 billion, an increase of 3%, and net income of $187 million compared with $143 million in the same period of 2018. Operating income grew by 12% to $347 million.