Original article by Nick Evans
The Australian – Page: 15 : 24-Apr-20
Alcoa announced a review of its loss-making aluminium smelters in September, with its Portland smelter in Victoria one of the smelters under scrutiny. Alcoa advised on 22 April that it would be closing its Intalco smelter in the US, as well as indicating it will speed up its review of loss-making assets because of the economic downturn resulting from the COVID-19 pandemic. Alcoa CFO Bill Oplinger said the pandemic was making it harder for the company to sell its unwanted assets, reducing the prospect of finding a ‘white knight’ for Portland should Alcoa’s review of it be unfavourable.
ALCOA INCORPORATED, ALUMINA LIMITED – ASX AWC