PITTSBURGH--(BUSINESS WIRE)--
Alcoa Corporation (NYSE:AA) today announced that it will immediately
begin to curtail half of the one operating potline at the Aluminerie de
Bécancour Inc. (ABI) smelter in Québec, Canada.
The Bécancour aluminum smelter, owned by Alcoa (74.95%) and Rio Tinto
Alcan Inc. (25.05%), has nameplate capacity of 413,000 metric tons per
year, across its three potlines. Two of the facility’s potlines were
curtailed on January 11, 2018, after union members rejected a proposed
labor agreement for hourly employees.
Since the lockout, ABI’s salaried employees have operated the one
potline, performed maintenance, restored stability and improved metal
quality. The additional curtailment, however, is necessary to ensure
continued safety and maintenance in light of recent retirements and
departures. The salaried employees who remain will continue to ensure
that the smelter can be ready for a potential restart.
The one operating line has a nameplate capacity of 138,000 metric tons
per year, of which 103,000 metric tons represent Alcoa Corporation’s
ownership interest. This partial curtailment is expected to be complete
by Friday, December 21, 2018.
After extensive negotiations this year, ABI and the union have yet to
reach an agreement on key terms to improve productivity and
profitability. ABI’s management remains committed to reaching a
negotiated agreement.
Dissemination of Company Information
Alcoa Corporation intends to make future announcements regarding company
developments and financial performance through its website at www.alcoa.com.
About Alcoa Corporation
Alcoa is a global industry leader in bauxite, alumina, and aluminum
products, built on a foundation of strong values and operating
excellence dating back 130 years to the world-changing discovery that
made aluminum an affordable and vital part of modern life. Since
developing the aluminum industry, and throughout our history, our
talented Alcoans have followed on with breakthrough innovations and best
practices that have led to efficiency, safety, sustainability, and
stronger communities wherever we operate.
Forward-Looking Statements
This press release contains statements that relate to future events and
expectations and as such constitute forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include those containing such words as
“anticipates,” “believes,” “could,” “estimates,” “expects,” “forecasts,”
“intends,” “may,” “outlook,” “plans,” “projects,” “seeks,” “sees,”
“should,” “targets,” “will,” “would,” or other words of similar meaning.
All statements that reflect the Company’s expectations, assumptions or
projections about the future, other than statements of historical fact,
are forward-looking statements. Forward-looking statements are not
guarantees of future performance and are subject to known and unknown
risks, uncertainties, and changes in circumstances that are difficult to
predict. Although the Company believes that the expectations reflected
in any forward-looking statements are based on reasonable assumptions,
it can give no assurance that these expectations will be attained and it
is possible that actual results may differ materially from those
indicated by these forward-looking statements due to a variety of risks
and uncertainties. Additional information concerning factors that could
cause actual results to differ materially from those projected in the
forward-looking statements is contained in the Company’s filings with
the U.S. Securities and Exchange Commission. The Company disclaims any
obligation to update publicly any forward-looking statements, whether in
response to new information, future events or otherwise, except as
required by applicable law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181219005393/en/
Investor Contact
James Dwyer
412-992-5450
James.Dwyer@alcoa.com
Media Contact
Jim Beck
412-315-2909
Jim.Beck@alcoa.com
Source: Alcoa Corporation