An economic force for communities
In 2015, Global Primary Products plants and its Montréal office generated economic benefits of more than $1.4 billion in Québec. This amount represents only direct economic benefits, namely the salaries we pay our over 2,500 employees, the taxes and income taxes paid in Québec, and purchases we made from our suppliers, most of whom are local. We are proud of the economic value we generate for our employees, customers, shareholders, and the communities where we operate.
A solid performance in a difficult period
The aluminum industry was hard hit by the 2008-2009 economic crisis, and it has not yet fully recovered, mainly due to rising production in emerging economies and the uneven recovery around the world. Alcoa made very difficult decisions under these conditions, reducing its global aluminum production over the last few years by 460,000 mt/year and, in November 2015, announcing further capacity reductions and smelter closures totaling approximately 500,000 mt. Even in these difficult times, the performance of Québec based smelters remained solid in 2015.
|Economic spinoffs of Global Primary Products plants in Québec, in 2015*
|Direct spinoffs, in salaries, purchases,taxes and income taxes
* As at December 31, 2015
** The Bécancour Smelter Inc. (ABI) is 74.95% owned by Alcoa and 25.05% by Rio Tinto Alcan.