No Agreement Reached After Last Meeting of Consultation Period on Alcoa’s Spanish Smelter; Next Steps to Be Announced Withi...
August 06 2020 - 09:07AM
Business Wire
The last meeting of the formal consultation period for
collective dismissal at the Company’s San Ciprián aluminum plant in
Spain ended on August 4, 2020, without an agreement with the
workers’ representatives.
According to Spanish regulations, Alcoa has up to 15 days from
the end of the consultation period to announce a decision regarding
the smelter’s 228,000 metric tons of annual capacity.
Alcoa and the San Ciprián Works Council have been meeting
throughout the formal consultation period, which began on June 25,
2020, to discuss a proposed restructuring that aims to stop
persistent and recurring financial losses at the smelter and find a
solution for both the Company and its workers.
The Company offered several proposals to the workers’
representatives, including a temporary dismissal through a Spanish
social program known as ERTE for two years with the potential for a
restart, and an offer to conduct a sales process for the aluminum
plant. All offers were rejected.
Alcoa and members of the San Ciprián Works Council began
negotiations through an informal process that began on May 28,
2020, followed by a formal process for collective dismissal that
extended beyond the legally mandated timeline.
The San Ciprián site has both an aluminum plant and alumina
refinery. The alumina refinery was not included in the consultation
process.
About Alcoa
Alcoa (NYSE:AA) is a global industry leader in bauxite, alumina,
and aluminum products, and is built on a foundation of strong
values and operating excellence dating back more than 130 years to
the world-changing discovery that made aluminum an affordable and
vital part of modern life. Since developing the aluminum industry,
and throughout our history, our talented Alcoans have followed on
with breakthrough innovations and best practices that have led to
efficiency, safety, sustainability, and stronger communities
wherever we operate. Visit us online on www.alcoa.com, follow
@Alcoa on Twitter, and on Facebook at www.facebook.com/Alcoa.
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Corporation believes that the expectations reflected in any
forward-looking statements are based on reasonable assumptions, it
can give no assurance that these expectations will be attained and
it is possible that actual results may differ materially from those
indicated by these forward-looking statements due to a variety of
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projected in the forward-looking statements is contained in Alcoa
Corporation's filings with the Securities and Exchange Commission.
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forward-looking statements, whether in response to new information,
future events or otherwise, except as required by applicable
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version on businesswire.com: https://www.businesswire.com/news/home/20200806005600/en/
Investors James Dwyer 412-992-5450 James.Dwyer@alcoa.com
Media Jim Beck 412-315-2909 Jim.Beck@alcoa.com
Clara Acebes Spain +34 914068280 Clara.Acebes@alcoa.com
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