Alcoa will close two aluminum plants in Spain and cut about 700 jobs

Published: Oct 18, 2018 12:00

Save

SMM10 18-SMM10 (Alcoa) said it plans to close its two aluminum plants in Spain, the two aluminum production capacity of 180000 tons / year, the two aluminum plants total layoffs of about 700 people.

The union said that if indirect employees were considered, the closure of the two aluminum plants would result in the loss of about 3000 jobs.

The company said the two aluminum plants, Aviles and La Coruna, had problems with inadequate technology and high repair costs.

"these problems, as well as external market factors such as rising raw material costs and energy, have led to huge losses at the two aluminum plants over the past two years."

Spain's Ministry of Industry has asked Alcoa for more information about the planned closure of the aluminum plant, which is said to be due to a lack of investment and hopes the company will find ways to keep the plant from producing.

"the government is surprised by the planned closure of the aluminum plant, and we are concerned that Alcoa has never reported to the government its decision to close the aluminum plant."

Alcoa Spain aluminum plant layoffs

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

41 mins ago

Geopolitical Tensions Boosted LME While China Inventory Buildup and Weakening Demand Kept Prices Under Pressure [SMM Aluminum Morning Meeting Minutes]

[Geopolitical Tensions Boost LME, China Inventory Buildup and Weakening Demand Under Pressure] In the short term, the core pattern of LME outperforming SHFE in the aluminum market is difficult to reverse. The strength in LME will support room for SHFE aluminum to catch up after the holiday, but high inventory and weak demand in China will suppress overall gains. Going forward, the focus should be on the pace of aluminum ingot destocking in China and the strength of rigid demand release from downstream resumption of work and production resumptions.

41 mins ago

54 mins ago

China's Secondary Aluminum Alloy Ingot Inventory Rises 363 MT Post-Holiday

[SMM Express] Today, the inventory of secondary aluminum alloy ingots in China's major consumption areas increased by 363 mt from the pre-holiday level (April 30) to 30,900 mt, maintaining a slight inventory buildup trend.

54 mins ago

1 hour ago

Pre-Holiday Secondary Aluminum Prices Continued to Decline, Stocking Demand Significantly Insufficient [SMM Cast Aluminum Alloy Morning Comment]

[SMM Cast Aluminum Alloy Morning Comment: Secondary Aluminum Prices Continued to Fall Before the Holiday, Stocking Demand Significantly Insufficient] On the last day before the holiday, the ADC12 market overall continued to be in the doldrums. Affected by the pullback in primary aluminum prices and sluggish downstream demand, enterprises actively lowered their quotes by small margins, and the mainstream transaction center shifted downward. Meanwhile, as the Labour Day holiday approached, downstream enterprises successively entered production suspension or production cuts mode, stocking demand before the holiday was significantly insufficient, and market trading sentiment turned sluggish. In the short term, ADC12 prices may remain in the doldrums, and after the holiday, attention should be focused on the pace of downstream production resumption and demand recovery.

1 hour ago