Alcoa to Close or Curtail 531,000 Metric Tons of Smelting Capacity

Alcoa intends to close or curtail approximately 531,000 metric tons, or 12 percent of its global smelting capacity, to lower the Company's position on the global aluminum cost curve and improve Alcoa's competitiveness.

The Company will permanently close its smelter in Alcoa, Tennessee, which was curtailed in 2009, along with two of the six idled potlines at its Rockdale, Texas smelter. Together, these closures will reduce Alcoa’s global smelting capacity of 4.5 million metric tons per year by 291,000 metric tons, or about 7 percent. The curtailments, to be announced in the near future, will reduce Alcoa’s global smelting capacity by an additional 240,000 metric tons, or about 5 percent. “These are difficult but necessary steps to improve Alcoa’s competitiveness, preserve and grow shareholder value and protect jobs in the rest of the Alcoa system,” said Alcoa Chairman and CEO Klaus Kleinfeld.