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Jamalco Refinery to Restart This Week; No Significant Damage from Hurricane Ivan
PITTSBURGH--(BUSINESS WIRE)--Sept. 14, 2004--Jamalco, Alcoa's (NYSE:AA) refinery in Jamaica, experienced no significant damage from Hurricane Ivan. The plant was shut during the storm but is being restarted today as power is restored. The plant, which has 1.25 million metric tons of capacity, should be fully operational by the end of this week.
The port from which Jamalco ships alumina did sustain damage in the storm. An assessment of that damage is being conducted, and alternative avenues for export are being explored.
In light of the temporary shutdown of the facility, damage to the port, and likely resulting delays in shipments, the company intends to declare force majeure to its customers.
Jamalco is a 50/50 relationship between Alcoa World Alumina and Chemicals ("AWAC") -- a global alliance between Alcoa and Alumina Ltd. -- and the Government of Jamaica, with AWAC as the managing partner.