Alcoa is considering the sale of an aluminum smelter, despite expecting to receive approximately €90 million (about 69 million yuan) in government aid.
The group forecasts that the primary aluminum production plant will record losses ranging from €90 million to €110 million (approximately 690 million to 843 million yuan) this year. Starting in 2027, if the plant becomes profitable, continued operation will be considered; otherwise, a sale will be pursued.
The future of Alcoa's San Ciprián industrial park in Cervo once again faces significant uncertainty. The US multinational has raised the possibility of selling the primary aluminum smelter while also evaluating another, more concerning option: closing the alumina refinery. These details were disclosed during the company's investor day event held last week, which aimed to present its future strategy to investors. If either plan materializes, implementation will occur after 2027—coinciding with the expiration of the job protection agreement reached with employees in 2021, which safeguards them from layoffs. Despite discussions of sale and closure, the Pittsburgh-based company also plans to significantly increase the amount of public aid it receives from the government.
