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(AMM) Alcoa remains committed to Iceland project: Anton
October 22, 2008 - 18:02 GMT
Location:
WHITE SULPHUR SPRINGS, W.Va.
Alcoa Inc. remains committed to building a second smelter in Iceland, despite the fact that the county's financial system is teetering on the verge of national bankruptcy, a company executive said.
The Icelandic government recently seized control of the country's three biggest banks, which were on the verge of collapsing. The value of the krona has declined significantly against major currencies, which has put a great deal of stress on the small country of only 305,000 residents.
"When you look beyond the current situation, Iceland has incredible fundamentals," Kevin Anton, vice president of Alcoa and president of the Pittsburgh-based company's Alcoa Materials Management division, said at a press briefing at the Aluminum Association's annual meeting in White Sulphur Springs, W.Va.
"With the exception of importing gasoline and diesel for transport, Iceland is energy self-sufficient. .?.?. Alcoa is...
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Euromoney Institutional Investor PLC.
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