Accessibility/Mobile Features
Skip Navigation
Skip to Content
Editorial News
Business
Classified Sites

The Canadian Press - ONLINE EDITION

Alcoa to close Australian smelter and rolling mills because they are not sustainable

An Alcoa employee of the aluminum producer works in Newburgh, Ind. in a 2006 photo. THE CANADIAN PRESS/AP, Daniel R. Patmore/dapd

Enlarge Image

An Alcoa employee of the aluminum producer works in Newburgh, Ind. in a 2006 photo. THE CANADIAN PRESS/AP, Daniel R. Patmore/dapd

SYDNEY - Aluminum giant Alcoa Inc. will permanently close an Australian smelter and two rolling mills because they were not financially sustainable, affecting almost 1,000 workers across the three sites, the company announced Tuesday.

The New York City-based company said in a statement a review of its 50-year-old Point Henry smelter at Geelong in Victoria state found it "has no prospect of becoming financially viable."

The rolling mills in Geelong and in Yennora, in New South Wales state, which serve the Australian and Asian can sheet markets have been impacted by excess capacity, the company said.

"Despite the hard work of the local teams, these assets are no longer competitive and are not financially sustainable today or into the future," Alcoa chief executive Klaus Kleinfeld said in a statement.

The smelter will close in August and the mills by the end of 2014.

Alcoa also said it would seek a buyer for the Anglesea coal mine and power station, which currently provide power to the smelter.

The company said its Portland smelter in Victoria would continue to operate, along with its Australian bauxite mining and Western Australia state alumina refining operations.

Alcoa said the cost of its restructure and closures would be between $250 million and $270 million.

  • Rate this Rate This Star Icon
  • This article has not yet been rated.
  • We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high. If you thought it was well written, do the same. If it doesn’t meet your standards, mark it accordingly.

    You can also register and/or login to the site and join the conversation by leaving a comment.

    Rate it yourself by rolling over the stars and clicking when you reach your desired rating. We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high.

Sort by: Newest to Oldest | Oldest to Newest | Most Popular 0 Commentscomment icon

You can comment on most stories on brandonsun.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.

There are no comments at the moment. Be the first to post a comment below.

Post Your Commentcomment icon

Comment
  • You have characters left

The Brandon Sun does not necessarily endorse any of the views posted. Comments are moderated before publication. By submitting your comment, you agree to our Terms and Conditions. New to commenting? Check out our Frequently Asked Questions.

letters

Make text: Larger | Smaller

Brandon Sun Business Directory
Submit a Random Act of Kindness
Why Not Minot?
Welcome to Winnipeg

Social Media

Canadian Mortgage Rates