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Alcoa Gets Government Funding to Keep Australia Smelter Open

By Robb M. Stewart MELBOURNE--Aluminum giant Alcoa Inc. (AA) said Friday it expects to operate its Point Henry aluminum smelter near Melbourne until at least mid-2014 as it cuts costs and accepts more than A$40 million in government funding in an effort to minimize losses. Alcoa said in a statement it expects to cut about 10% of the workforce at the smelter, which has been hit by weaker metal prices and a strong Australian dollar. Write to Robb M. Stewart at

Stock News for Alcoa (AA)
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11/27/201506:01:08Notice of Effectiveness (effect)
11/27/201503:02:00Activists Display Lighter Touch
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

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