Alcoa Inc. will shutter its Poç os de Caldas primary aluminum
smelter in Brazil, a year after curtailing production due to market
conditions.
The closure, effective immediately, "permanently removes a
high-cost smelting facility from the Alcoa system," global primary
products president Bob Wilt said Tuesday.
Shutting the smelter will reduce Alcoa's global smelting
capacity by 96,000 metric tons to 3.4 million metric tons.
Alcoa said it would record a resulting charge of $100 million to
$110 million, or 8 cents to 9 cents a share, during the current
quarter.
The lightweight metals manufacturer last May pulled back
production at Poç os de and said conditions that led to the
curtailment haven't improved.
Shares in the company, off 28% this year, rose 0.8% premarket to
$11.44.
Write to Lisa Beilfuss at lisa.beilfuss@wsj.com
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