Alcoa Inc said Friday that it intends to permanently close its Fusina primary aluminum smelter, a 44,000 metric ton plant in Venice, Italy, which has been offline since June 2010.
Alcoa's global smelting capacity is currently at 4.2 million tonnes.
Fusina's 44,000 tonnes is in addition to the 460,000 tonnes of operating smelting capacity that Alcoa previously announced was under review. The closure will cut 14 jobs and cost about US$30 million to US$35 million.
"The underlying conditions that led Alcoa to curtail the Fusina smelter in 2010 have not fundamentally changed," said Alcoa Global Primary Products President Bob Wilt in a statement issued by Aloca. "Global aluminum prices remain weak and we must take action to maintain Alcoa's competitiveness," he said.
The Alcoa Fusina rolling mill operates separately from the smelter and is not affected by this announcement, the mining company said.