Alcoa to shutter Warrick smelter, Indiana
TORONTO (miningweekly.com) – US aluminium specialist Alcoa will permanently close its 269 000-metric-ton Warrick Operations smelter, in Evansville, Indiana, by the end of the first quarter.
The NYSE-listed firm noted that the Midwest transaction aluminium price had dropped by about 30% and that the Alumina Price Index fell about 40% during 2015.
The company also announced that it would decrease alumina production by one-million tons by the end of the second quarter, which included curtailing the remaining 810 000 t of refining capacity at its Point Comfort operations, in Texas.
Alcoa expected to book an associated charge of about $120-million after-tax, or $0.09 per share, in the fourth quarter – of which about 45% would be non-cash.
Once fully executed, Alcoa expected to have curtailed or closed 812 000 t of smelting capacity and 3.3-million tons of refining capacity since it announced a review in March last year of 500 000 t of smelting capacity and 2.8-million tons of refining capacity.
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