Tweet 2 Share 2 Year

Select a year

Printer Friendly

Version

go

Alcoa in Social Media

In addition to

www.alcoa.com, Alcoa is

an active participant in

and uses social media to

communicate information

about the company.

Facebook, Twitter,

YouTube and LinkedIn are

powerful tools that allow

us to connect with our

customers, investors,

potential employees and

fans.

Alcoa on Facebook

Alcoa on LinkedIn

Alcoa on Twitter

AlcoaTV on Youtube

May 1, 2013

Alcoa to Review 460,000 Metric Tons of

Smelting Capacity for Possible Curtailment

NEW YORK--(BUSINESS WIRE)--Alcoa (NYSE: AA) announced today

that it will review 460,000 metric tons of smelting capacity over the

next 15 months for possible curtailment to maintain the Company’s

competitiveness, as aluminum prices have fallen more than 33

percent since their peak in 2011.

The review will include facilities across the Alcoa system and will

focus on higher-cost plants and plants that have long-term risk due

to factors such as energy costs or regulatory uncertainty. The

possible curtailments could affect 11 percent of Alcoa’s global

smelting capacity.

Currently, the Company has 13 percent, or 568,000 metric tons of

smelting capacity idle.

“Because of persistent weakness in global aluminum prices, we

need to review every option to maintain Alcoa’s competitiveness,”

said Chris Ayers, President of Alcoa’s Global Primary Products.

“Any action taken will only be done after a thorough strategic

review and consultations with stakeholders.”

When reviewing smelting capacity for possible curtailment, Alcoa

will consider a wide variety of alternative actions, ranging from

discontinuing pot relining to full plant curtailments and/or

permanent shutdowns. Alcoa’s alumina refining system will also be

reviewed to reflect any curtailments in smelting as well as

prevailing market conditions.

Alcoa’s review of its primary metals operations is consistent with

the Company’s 2015 goal of lowering its position on the world

aluminum production cost curve by 10 percentage points and the

alumina cost curve by 7 percentage points.

Like 6
Decisions on curtailments and/or closures will be announced as

reviews are completed.

About Alcoa

Alcoa is the world’s leading producer of primary and fabricated

aluminum, as well as the world’s largest miner of bauxite and

refiner of alumina. In addition to inventing the modern-day

aluminum industry, Alcoa innovation has been behind major

milestones in the aerospace, automotive, packaging, building and

construction, commercial transportation, consumer electronics and

industrial markets over the past 125 years. Among the solutions

Alcoa markets are flat-rolled products, hard alloy extrusions, and

forgings, as well as Alcoa® wheels, fastening systems, precision

and investment castings, and building systems in addition to its

expertise in other light metals such as titanium and nickel-based

super alloys. Sustainability is an integral part of Alcoa’s operating

practices and the product design and engineering it provides to

customers. Alcoa has been a member of the Dow Jones

Sustainability Index for 11 consecutive years and approximately 75

percent of all of the aluminum ever produced since 1888 is still in

active use today. Alcoa employs approximately 61,000 people in 30

countries across the world. For more information, visit

www.alcoa.com, follow @Alcoa on Twitter at www.twitter.com/Alcoa

and follow Alcoa on Facebook at www.facebook.com/Alcoa.

Forward-Looking Statements

This release contains statements that relate to future events and

expectations and as such constitute forward-looking statements

within the meaning of the Private Securities Litigation Reform Act of

1995. Forward-looking statements include those containing such

words as “estimates,” “expects,” “goal,” “plans,” “should,” “will,” or

other words of similar meaning. All statements that reflect Alcoa’s

expectations, assumptions or projections about the future other

than statements of historical fact are forward-looking statements,

including, without limitation, forecasts concerning global demand

growth for aluminum, end market conditions, supply/demand

balances, targeted financial results or operating performance, and

statements about Alcoa’s strategies, outlook, and business and

financial prospects. Forward-looking statements are subject to a

number of known and unknown risks, uncertainties, and other

factors and are not guarantees of future performance. Important
factors that could cause actual results to differ materially from

those expressed or implied in the forward-looking statements

include: (a) material adverse changes in aluminum industry

conditions, including global supply and demand conditions and

fluctuations in London Metal Exchange-based prices for primary

aluminum, alumina, and other products, and fluctuations in

indexed-based and spot prices for alumina; (b) deterioration in

global economic and financial market conditions generally; (c)

unfavorable changes in the markets served by Alcoa; (d) increases

in energy costs, the unavailability or interruption of energy

supplies, or increases in the costs of other raw materials; (e)

Alcoa’s inability to successfully realize goals established in each of

its four business segments, at the levels or by the dates targeted

for such goals (including moving its alumina refining and aluminum

smelting businesses down on the industry cost curves and

increasing revenues in its Global Rolled Products and Engineered

Products and Solutions segments); (f) political, economic, and

regulatory risks in the countries in which Alcoa operates or sells

products, including unfavorable changes in laws and governmental

policies, foreign currency exchange rates, tax rates, civil unrest, or

other events beyond Alcoa’s control; (g) the outcome of

contingencies, including legal proceedings, government

investigations, and environmental remediation; and (h) the other

risk factors summarized in Alcoa’s Form 10-K for the year ended

December 31, 2012, Form 10-Q for the quarter ended March 31,

2013, and other reports filed with the Securities and Exchange

Commission. Alcoa disclaims any obligation to update publicly any

forward-looking statements, whether in response to new

information, future events or otherwise, except as required by

applicable law.