Alcoa slashing production in Brazil

Mar 28, 2014 | 05:05 PM | Michael Cowden

Tags  Alcoa, aluminum, Robert Wilt, Pocos de Caldas, Brazil, Rio Tinto Alcan, Michael Cowden

CHICAGO --- Alcoa Inc. plans to stop smelting aluminum at its first plant in Brazil and will further cut production at another smelter.

The Pittsburgh-based aluminum producer said March 27 that the cutbacks will cost the company between $40 million and $50 million after taxes, or 4 to 5 cents per share, in the first quarter.

“Across the globe, we are taking measures to curtail high-cost smelting capacity that is not competitive and reshape our cost profile,” Robert Wilt, president of Alcoa’s global primary products division, said in a statement.....

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