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Alcoa to close smelter in Italy.
Issued at 2013-07-10
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It’s reported that Alcoa Inc. plans to permanently close its Fusina aluminium smelter in Italy and book a charge of up to US$35 million for the move in order to cut capacity amid sluggish demand.
The smelter in Venice, which has been largely idle since June 2010, has an annual smelting capacity of 44,000 tons of aluminum materials.
The underlying conditions that led Alcoa to curtail the Fusina smelter in 2010 have not fundamentally changed, said Alcoa Global Primary Products President Bob Wilt in a statement issued by Aloca.
He added that the global aluminum prices remain weak and we must take action to maintain Alcoa's competitiveness.
Source: Yieh
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