The closure of Alcoa’s Fusina 44kt facility is in addition to the 460kt of smelting capacity that Alcoa previously announced was under review, mainly due to weak aluminium prices and the need to keep the company competitive.

Alcoa will work with affected communities to explore ways to redevelop the closed smelter, and will consult with local unions to put appropriate social support in place for the 14 employees impacted by the closure. Alcoa’s Fusina rolling mill operates separately from the smelter and is not affected by this announcement.

Total restructuring-related charges for second quarter 2013 as a result of the closure are expected to be between $30 million and $35 million after-tax, or about $0.03 per share, of which approximately 50% is non-cash.