- Alcoa (AA) says it will permanently close the remaining two potlines at its Massena East smelter in New York during Q1, reducing the company's smelting capacity by 84K metric tons, but that the Massena West facility will continue to operate.
- AA expects Q1 restructuring-related charges associated with the closure of $60M-$70M, or $0.06/share, of which ~40% is non-cash.
- The latest closure brings the total of the company's announced closures or curtailments to 361K metric tons of the 460K metric tons placed under review in May of last year.
- Shares -0.3% AH.
Alcoa to close remaining potlines at Massena East smelter
Jan 15 2014, 18:24 ET