December 3, 2009

Alcoa Australia Rolled Products announces business restructure

Alcoa Australia Rolled Products (ARP) has today announced a restructure of its operations in Western Sydney and Geelong to ensure the ongoing sustainability of the business.

The restructure is required to manage the ongoing impacts of the global financial crisis, rising costs and high foreign exchange rates which reduces the profitability of export sales and increases the competitiveness of imports.
 
The restructure will mean a reduction of around 150 jobs across the two operating locations at Point Henry in Geelong and Yennora in Western Sydney.

“This decision has been made after a rigorous review of all elements of the business- including production, labour and supply agreements,” Alcoa ARP Managing Director Mark Vrablec said.

"These times are not easy on our people, our customers or our communities as it involves making some of the toughest decisions of all but we will do our best to get through with the least impacts and seek opportunities to grow in a low-carbon economy.”

Alcoa ARP has been keeping employees informed of the challenges facing the business and they have positively contributed to ongoing improvement activities. Alcoa ARP will continue to communicate with employees throughout the restructure process. 
 
Affected employees are assured of receiving all entitlements and support through the restructuring process. The restructure is expected to be completed in the early stages of 2010. The announcement relates to Alcoa ARP only and does not include Alcoa of Australia’s Victorian smelting and power station operations or the Western Australian mining and alumina refining facilities.
 
All statements are available at www.alcoaarp.com.au