Alcoa and Quebec Looks like the aluminum business is in lots trouble as Alcoa is closing lots of smelters all over the world and reducing production...... EXCEPT IN QUEBEC WHERE THEY ARE INCREASING PRODUCTION AND INVESTMENT!!!!! Any thoughts why they would increase production in Quebec? Kherson I hope you are short and get burned.
Here is an excerpt from globeinvestor:
"Last week, Alcoa said it will cut 12 per cent of its global smelting capacity and take action to counter rising raw material costs. It is closing a smelter in Tennessee and curtailing capacity at plants in Texas, Italy and Spain.
Earlier Monday, the company announced it will close smelters in Portovesme, Italy, as well as La CoruIna and Aviles, Spain, in the first half of this year – plants the company says are among the highest-cost operations in its global operations.
Together, the smelters employ about 1,500 people.
Last week, the company said it would permanently remove 290,000 tonnes by closing a smelter in Alcoa, Tenn., and shut down two of six halted metal production lines in Rockdale, Tex. The streamlining does not affect Alcoa’s Canadian operations, where the company is increasing its production and investing billions of dollars to upgrade its three smelters in Quebec."