Alcoa: Quebec Smelter Workers OK Pact, Curtailed Capacity to Be Restarted
03 July 2019 - 07:23AM
Dow Jones News
By Josh Beckerman
Alcoa Corp. (AA) said a Quebec smelter will restart its
curtailed capacity as workers approved a six-year labor
agreement.
The Aluminerie de Becancour Inc. smelter is 74.95% owned by
Alcoa and 25.05% owned by Rio Tinto Alcan Inc.
Alcoa expects to record special items related to restart costs
of about $40 million to $50 million after tax, or about 22 cents to
27 cents a share.
The smelter will recall about 900 unionized employees according
to a specific back-to-work protocol, with all of those on lockout
back within eight months of the July 26 restart date.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
July 02, 2019 17:08 ET (21:08 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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