ALCOA Company announced the closing of aluminum production in New York and to reduce capacity in Brazil
The largest US-based Alcoa Inc., which is the leading world producer of primary aluminum and various aluminum products and alumina, was founded in 1886 and has since firmly holds the championship for the extraction of high-grade aluminum. I must say that at the moment the company employs nearly sixty thousand people in thirty-one countries around the world.
But the situation in the aluminum market situation is such that the company recently Alcoa said the world community in its press release that the management decided to close the aluminum production in New York, as well as significantly reduce most of the production directly in Brazil. It is planned to make the end of September as part of the latest revision of the plan for capacity.
Representatives of the company informed that the New York plant Massena East, which is characterized by a capacity of forty thousand tons, plans to fully close. In addition, they say, begins a temporary reduction in temporary facilities at the plant owned by the company in Brazil. It is planned to present a reduction of twenty thousand metric tons capacity.
This global review of capacities related to the main purpose of which is for the time being the company Alcoa, namely to maintain the normal competitiveness. Since today's prices for aluminum, including a variety of bonuses, practically tend to reduce to nearly four-year low, the company has to continue its work in complete uncertainty, and even some volatility in the market. This was announced by President Bob wilt separate division of the company.
Today, the company has fulfilled half promised in May of capacity reduction, which as a result have reduced the basic power of sixteen percent. Also held discussions on the systematic closure of a fairly large factories located in Italy and Canada. Overall, the planned reduction to about four hundred and sixty thousand capacity, the question of which opened another scheduled meeting in May.
In addition to the American giant beginning to ask reducing capacity and Russian companies in mining and aluminum production. Since the company's board of directors Rusal reported planning discussions about the suspension of aluminum production at several factories owned by the company.