Alcoa To Close Facility, Curtail Capacity, Leading To $120 Million Charge

By Markets MarketWatch Pulse

Alcoa Inc. said Thursday it will incur a fourth-quarter charge of about $120 million, or 9 cents a share, relating to closing down a facility and curtailing alumina output. The company said in a statement it will close smelter operations in Indiana by the end of the first quarter, and reduce its alumina production by 1 million metric tons by the end of the second quarter, which will include curtailing refining capacity at a Texas operation. Alcoa has announced its intention to split in two publicly traded companies, one focusing on raw materials and another on engineered products and transportation and construction businesses. Shares of Alcoa were flat in late trading Thursday after ending the regular trading session down 4%.

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