Via Fast FT:

  • Alcoa closing a smelting facility and two rolling mills in Australia
  • The facility, known as Point Henry, is located in Geelong Victoria, as is one of the mills to be closed.
  • The other mill is in Yennora, New South Wales

“Despite the hard work of the local teams, these assets are no longer competitive and are not financially sustainable today or into the future.”

The Point Henry smelter employs about 500 people and the two rolling mills have a workforce of about 480. Alcoa said that the mills provided metal to the can market in Asia which have been “impacted by excess capacity.”

H/t to Manderley in the comments – thank-you

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Added: Link to Statement from Alcoa