Alcoa places half of its global aluminium portfolio under review

Alcoa has launched a multi-year review of its aluminium portfolio, placing roughly half of its global smelting capacity under scrutiny for potential curtailment or closure, the company said in an earnings call with investors on Wednesday October 16.

“To become a profitable and more competitive company, today we’re announcing a multi-year review of our asset portfolio” Alcoa chief executive and president Roy Harvey said. “The review will consider opportunities for significant improvement, potential curtailment, closures or divestitures.   “We anticipate making the most meaningful changes in our alumina and aluminium portfolios. In alumina, we’re placing approximately four million metric tonnes of capacity under review. And in aluminium, about 1.5 million metric tonnes of capacity [is] under review” he added. The company noted that capacity currently under curtailment has already been included in the...

Published

Michael Roh

October 17, 2019

12:32 GMT

New York