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Alcoa Corporation announces decisions on smelting assets in US and Italy

Metal News - Published on Fri, 29 Dec 2017

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Alcoa Corporation, a global leader in bauxite, alumina and aluminum products, announced decisions regarding smelting assets in the United States and Italy. The actions support the Company’s strategic priorities to reduce complexity and to strengthen the balance sheet.

In the United States, Alcoa intends to permanently close its Rockdale Operations site in Texas, which has been fully curtailed since the end of 2008. The site includes a primary aluminum smelter and casthouse, an aluminum powder plant and associated buildings and equipment. Alcoa’s strategic review of these assets, announced earlier this year, concluded that these operations have limited economic prospects. Separately, the Company continues to market for sale more than 30,000 acres of land at the Rockdale site.

In Italy, Alcoa has reached an agreement to divest the Portovesme primary aluminum smelter, fully curtailed since 2012 and closed since 2014, to Invitalia, the Italian government agency that manages economic development. As part of the agreement, Alcoa and the Italian government have settled matters related to past energy tariffs, including the Italian Energy Authority Regulation 148/2004 matter, and a groundwater remediation project.

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Posted By : Rabi Wangkhem on Fri, 29 Dec 2017
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