Alcoa to Begin Formal Consultation Process With Spanish Works Council Regarding San Ciprián Aluminum Smelter
June 17 2020 - 6:00AM
Business Wire
Alcoa Corporation, a global leader in bauxite, alumina and
aluminum, today announced that it plans to begin, on June 25, 2020,
a formal process for the collective dismissal of employees at its
San Ciprián aluminum facility in Spain.
On May 28, 2020, Alcoa launched an informal process with the
workers’ representatives to discuss significant and unsustainable
circumstances at the aluminum plant. The Company now intends to
begin the formal 30-day consultation period with the Works Council
to achieve the best possible outcome for the Company and its
workforce.
The Company envisions a restructuring for the aluminum plant
that retains a portion of the casthouse in operation. A collective
dismissal could potentially affect up to 534 employees of the
aluminum plant. No final decisions will be made until the
mandatory, formal consultation process is complete.
The aluminum smelter has incurred significant and recurring
financial losses, which are expected to continue.
The San Ciprián site has both an aluminum plant and alumina
refinery. The San Ciprián alumina refinery is not affected by this
formal consultation process.
About Alcoa
Alcoa (NYSE: AA) is a global industry leader in bauxite,
alumina, and aluminum products, and is built on a foundation of
strong values and operating excellence dating back more than 130
years to the world-changing discovery that made aluminum an
affordable and vital part of modern life. Since developing the
aluminum industry, and throughout our history, our talented Alcoans
have followed on with breakthrough innovations and best practices
that have led to efficiency, safety, sustainability, and stronger
communities wherever we operate. Visit us online on www.alcoa.com,
follow @Alcoa on Twitter, and on Facebook at
www.facebook.com/Alcoa.
Forward-Looking Statements
This news release contains statements that relate to future
events and expectations and as such constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements include those
containing such words as “anticipates,” “believes,” “could,”
“estimates,” “expects,” “forecasts,” “goal,” “intends,” “may,”
“outlook,” “plans,” “projects,” “seeks,” “sees,” “should,”
“targets,” “will,” “would,” or other words of similar meaning. All
statements by Alcoa Corporation that reflect expectations,
assumptions or projections about the future, other than statements
of historical fact, are forward-looking statements. Forward-looking
statements are not guarantees of future performance and are subject
to known and unknown risks, uncertainties, and changes in
circumstances that are difficult to predict. Although Alcoa
Corporation believes that the expectations reflected in any
forward-looking statements are based on reasonable assumptions, it
can give no assurance that these expectations will be attained and
it is possible that actual results may differ materially from those
indicated by these forward-looking statements due to a variety of
risks and uncertainties. Additional information concerning factors
that could cause actual results to differ materially from those
projected in the forward-looking statements is contained in our
filings with the Securities and Exchange Commission. Alcoa
Corporation disclaims any obligation to update publicly any
forward-looking statements, whether in response to new information,
future events or otherwise, except as required by applicable
law.
Dissemination of Company Information
Alcoa Corporation intends to make future announcements regarding
company developments and financial performance through its website,
www.alcoa.com, as well as through press releases, filings with the
Securities and Exchange Commission, conference calls and
webcasts.
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version on businesswire.com: https://www.businesswire.com/news/home/20200617005147/en/
Investor Contact James Dwyer 412-992-5450
James.Dwyer@alcoa.com
Media Contacts Jim Beck 412-315-2909 Jim.Beck@alcoa.com
Clara Acebes Spain +34 914068280 Clara.Acebes@alcoa.com
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