Alcoa closes US aluminum plants
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Manufacturing News, Source : TheManufacturer.com
Published : 01 Aug 2002 21:45
The latest casualty in a suffering metals industry is Alcoa. The world’s number one aluminum firm will permanently close two idling plants and cut down output at a third.
Once completed, Alcoa will have idled 11% of its base output of 3.95 million metric tons per year of product.
The firm has experienced a substantial decrease in sales and profit growth over the last four consecutive quarters. Alcoa expects a continuation in the downturn, forecasting a $15 to $20 million loss for the third quarter of 2002.
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