Orlando, Florida 25/08/2014 - Alcoa will permanently close its Portovesme (Carbonia-Iglesias, Italy) primary aluminium smelter, which has been curtailed since November 2012, the company said on Monday.
The closure will reduce Alcoa’s global smelting capacity by 150,000 tonnes to 3.6 million tonnes per year, the release said.
“The fundamental reasons that made the Portovesme smelter uncompetitive unfortunately have not changed,” said Bob Wilt, President, Alcoa Global Primary Products. “We will continue to meet the commitments made to our employees and our stakeholders, acting in good faith as we have always done.”
When it was open, about half of the plant's production was aluminium billets, while the rest was ingots and slabs
Total restructuring-related charges for third quarter 2014 as a result of the closure are expected to be between $170 million and $180 million after-tax, or between $0.14 and $0.15 per share, of which approximately 60 percent is non-cash, Alcoa said.