Alcoa permanently closed its Poços de Caldas primary aluminium smelter in Brazil on 30 June.
The smelter has been furloughed since May 2014 and the underlying market conditions that led to that move have not improved.
Go deeper with GlobalData
“The closure of [Poços] permanently removes a high cost smelting facility from the Alcoa system and is another step in creating a more profitable primary metals business,” said the supplier’s global primary products president Bob Wilt.
Total global smelting capacity has been reduced by 96,000 metric tonnes, to 3.4m. The Poços mine, refinery, aluminium powder plant and casthouse remain in operation.
Alcoa expects to book restructuring-related charges in second quarter 2015 of between US$100m and $110m after tax, or $.08 to $.09 per share, of which approximately 60% is non cash.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
