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Alcoa Shuts Down Northwest Alloys Magnesium Smelter
PITTSBURGH--June 22, 2001--
Alcoa Inc. today announced that it will shut down Northwest Alloys, its
magnesium smelter in Addy, Washington, as of October 1, 2001 due to high
production costs and unfavorable market conditions.
Northwest Alloys’ planned operating rate in 2001 has been 30,000 metric
tons per year (mtpy); total capacity is 45,000 mtpy. The plant employs
325 people. Approximately 300 workers will be laid off between October 1
and December 31, 2001.
Magnesium is used in aluminum alloying, desulfurization of steel and, in
alloy form, for die-casting of magnesium parts for automotive use. Alcoa
will source its North American requirements through contracts with a
number of worldwide suppliers.
Alcoa is the world's leading producer of primary aluminum, fabricated
aluminum and alumina. It provides customers in the packaging, consumer,
automotive, aerospace, construction and other markets with a variety of
fabricated and finished products. Alcoa has over 350 operating locations
in 37 countries.
(Alcoa NYSE: AA)
Bonita A. Cersosimo
Investor Relations Contact:
Charles D. McLane, Jr.
Certain statements relate to future events and expectations and as
such constitute forward-looking statements involving known and unknown
risks, uncertainties and other factors that may cause actual results to
be different from those expressed or implied in the forward-looking
statements. Important factors that could cause actual results to differ
materially from those in the forward-looking statements include
uncertainties regarding the outcome of the energy crisis in the Western
United States and the other risk factors summarized in Alcoa's SEC