The cuts will reduce Alcoa’s is refining capacity in the Atlantic region by about 4% and are already underway. The Atlantic region represents about 50% of its total global refining capacity of 18Mt/y.
In January, Alcoa announced the closure or curtailment of 531kt of smelting capacity. Of that, 291kt represented the permanent closure of capacity in Tennessee and Texas that had been idled since 2009.
Another 240kt, represented curtailments to be taken in Portovesme, Italy and La Coruña and Aviles, Spain.
Alcoa has reached agreement with government authorities and unions in both Italy and Spain on the curtailments. The 90kt curtailment in the Spanish smelters has started and is scheduled to be complete by the first half of this year.
The smelter in Portovesme, Italy, with a capacity of 150kt, will finalise curtailment by the end of the year.