20 January 2009

But will Charest expropriate?

Alcan closes a smelter and slashes production in the latest round of cuts and adjustments:

    • A further six per cent reduction in aluminium production, bringing the total reduction to approximately 11 per cent, and close to six per cent reduction in alumina production
    • Reduction in global workforce by approximately 1100 roles (300 contractors and 800 employee roles)
    • Substantial cost reduction programmes in Rio Tinto Alcan facilities worldwide
    • Permanent closure of Beauharnois smelter in Quebec, Canada
    • Production at Vaudreuil alumina refinery in Canada to be temporarily curtailed by 400,000 tonnes
    • Expected sale of interest in Alcan Ningxia joint venture in China
    • As previously announced, the anticipated ending of smelting operations at Anglesey Aluminium joint venture in the United Kingdom in September 2009 when the current power contract expires. The impact on production and headcount is included in these figures.