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| December 6, 2007
Seventeen-Year Renewable, Hydropower Supply Approved for Alcoa's Wenatchee Smelter
WENATCHEE, Wash.--(BUSINESS WIRE)--Alcoa (NYSE:AA) announced today that the commissioners in Public Utility
District Number One of Chelan County (PUD) approved a 17-year power
agreement that is the linchpin to assuring the long-term survival—and
an increase in production—at the Alcoa
Wenatchee Smelter in Wenatchee, Washington, USA. The smelter is a major
contributor to the economy and sustainability of the Wenatchee Valley.
Under terms of the agreement—which will take
effect on November 1, 2011, when the current contract expires, and
continue through October 2028—Alcoa will
receive approximately 25 percent of the renewable, hydropower output of
the Rocky Reach and Rock Island dams.
“Not only will Alcoa continue to be an
important part of the Wenatchee Valley community, as we have been for 55
years, but we’ll also grow our operations
thanks to this agreement,” said Stefan Vogt,
plant manager at Alcoa Wenatchee Works. “In
the future, we will be able to expand production by adding a third
potline and approximately 60 jobs.” This will
increase production at the smelter by 42,000 metric tons per year (mtpy)
and bring total production to approximately 142,000 mtpy and employment
to approximately 450.
“By approving this long-term power agreement,
the Chelan County PUD Commissioners have voted for the future of the
Wenatchee Valley. We are deeply appreciative of their support and
excited at the prospect of maintaining the Wenatchee Works smelter as a
reliable, cost effective and a safe place to work—and
contributing to the viability of the Wenatchee community—for
many years to come,” said Vogt.
Chelan PUD and Alcoa will use the approved terms to draft the final
contracts, which won't take effect until approved and ratified by both
organizations.
About Alcoa
Alcoa is the world's leading producer and manager of primary aluminum,
fabricated aluminum and alumina facilities, and is active in all major
aspects of the industry. Alcoa serves the aerospace, automotive,
packaging, building and construction, commercial transportation and
industrial markets, bringing design, engineering, production and other
capabilities of Alcoa's businesses to customers. In addition to aluminum
products and components including flat-rolled products, hard alloy
extrusions, and forgings, Alcoa also markets Alcoa®
wheels, fastening systems, precision and investment castings, structures
and building systems. The company has 116,000 employees in 44 countries
and has been named one of the top most sustainable corporations in the
world at the World Economic Forum in Davos, Switzerland. More
information can be found at www.alcoa.com
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