June 12, 2009

Alcoa Victorian Operations responding to global financial crisis

Alcoa’s Victorian Operations will continue discussions with union stakeholders, employees and other stakeholders as it considers the most effective options to manage through the global economic downturn and ensure its sustainability in the long-term.

 
General Manager for Victorian Operations, Arnaud Soirat said the company has been taking decisive action and engaging employees and stakeholders since the outset of the global financial crisis.
 
“An ongoing open and two-way dialogue with our employees and unions has occurred but further discussion and action is required while we continue to face unprecedented economic challenges that are severely impacting our business,” Mr Soirat said.
 
Alcoa’s Victorian businesses at Point Henry, Anglesea and Portland have been rigorously reviewing all elements of the business - including production, labour and supply agreements - to realise sustainable levels of cost and profitability.
 
Mr Soirat acknowledged the ongoing process of discussion and review presents concerns for employees and families.
 
“Consultative processes, regular employee presentations and suggestion schemes have been underway for some time to seek input from employees, unions and contractors to identify opportunities to rapidly and sustainably reposition the Victorian businesses for the long-term.
 
“We believe that this process needs to continue as we explore the most effective options for our sustainability and seek to minimise job losses,’ said Mr Soirat.
 
Alcoa’s effort to manage through the economic downturn and emerge stronger has been well documented publicly and continues to be the subject of regular external briefings to stakeholders from the region.
Alcoa of Australia’s Managing Director Alan Cransberg has recently given presentations in the Geelong and Portland communities where he outlined the extraordinary challenges the company is facing and Alcoa’s ‘7-Step plan’ to ensure the sustainability of the business.
 
To see how Alcoa is managing through the global economic downturn visit:
http://www.alcoa.com/australia/en/info_page/economic_downturn.asp  
 
 
All statements are available at www.alcoa.com.au plus insert any other notes for editors.