ADVFN - Advanced Financial Network.
HOME» NYSE » A » AA Stock Price » AA Stock News

Alcoa Share News

 Alcoa, Inc. Stock Price
AA Stock Price
 Alcoa, Inc. Stock Chart
AA Stock Chart
 Alcoa, Inc. Stock News
AA Stock News
 Alcoa, Inc. Company Information
AA Company Information
 Alcoa, Inc. Stock Trades
AA Stock Trades

Alcoa: Portovesme Smelter Fate Undecided; Still Set For Closure

By Andrea Hotter Of DOW JONES NEWSWIRES LONDON -(Dow Jones)- A decision on the future of the Portovesme aluminum smelter in Sardinia, Italy, is still undecided following a meeting held Thursday between unions, management and government officials, its owner Alcoa Inc. (AA) said Friday. Various measures are being considered for the future of the 150,000 metric-tons-a-year smelter, which is slated for closure in the first half of this year as part of Alcoa's plan to curtail high-cost capacity, amid an uncompetitive energy position, rising raw material costs and falling aluminum prices. Alcoa said Italy's Ministry of Economic Development convened a meeting attended by the company plus representatives of the government, unions and the Works Council of the plant. "The meeting was an opportunity to further discuss possible solutions for our employees and the local community but has not yet led to a definitive agreement," Alcoa said. "Alcoa reconfirms its readiness for further consultation with all stakeholders, in the framework of the mobilita process which started in January, in order to find the best possible solutions for our employees and the community." The ‬mobilita process is a collective dismissal procedure and ends April 4. Labor unions strongly oppose the closure of the plant. A sale of the smelter is a possibility. The smelter is located close to the Eurallumina refinery, also in Portovesme. The 1.085 million-tons-a-year alumina refinery is majority-owned by United Co. Rusal PLC (0486.HK) following a deal buying out U.K.-listed Rio Tinto PLC's (RIO) majority stake in 2006. U.K.-listed Glencore International PLC (GLEN.LN) at that time held the remaining stake, which were part of the alumina assets it folded into a merger with Rusal and SUAL. In January, Italy's industry ministry said Glencore had expressed interest in the smelter, which is located near to one of its lead and zinc plants. -By Andrea Hotter, Dow Jones Newswires; +44 (0)20 7842 9413;

Stock News for Alcoa (AA)
11/25/201509:11:39Initial Statement of Beneficial Ownership (3)
11/24/201514:50:00Alcoa Reaches Deal With New York to Save Jobs at Smelter
11/24/201513:05:00Alcoa Announces Post-Separation Executive Management Teams
11/24/201510:06:00Alcoa Reaches Agreement with New York State to Increase Competitiveness...
11/24/201508:10:03The Alcoa Break-Up: Who Gets the Debt?
11/23/201519:45:03Alcoa's Split Gets a Big Vote of Confidence
11/23/201515:14:00Activist Elliott Takes Stake in Alcoa--3rd Update
11/23/201511:30:00Activist Elliott Takes Stake in Alcoa
11/23/201510:05:03Statement of Beneficial Ownership (sc 13d)
11/22/201510:10:02Alcoa's Pending Split: What Can We Learn From Other CEO-Led Spinoffs
11/20/201513:52:00Alcoa Approves Dividend on Mandatory Convertible Preferred Stock
11/19/201516:15:10Post-effective Amendment to Registration Statement (pos Am)
11/04/201514:09:00Alcoa Reports Progress Towards Business Targets and Path to Separation...
11/02/201519:30:00Alcoa to Idle Certain Smelters in New Capacity Cuts
11/02/201517:00:00Alcoa to Curtail Smelting and Refining Capacity to Further Drive...
11/02/201515:15:08Johnson Controls Executes Well in a Difficult Quarter
10/30/201503:56:05Alcoa: Betting On A Turnaround
10/29/201510:00:00Alcoa Opens Advanced Jet Engine Parts Facility in Indiana
10/28/201508:30:00Alcoa to Host Investor Day November 4, 2015
10/27/201506:07:34Buy Alcoa And Put It Away - Cramer's Lightning Round (10/26/15)

Alcoa and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations