Alcoa threatens to shutter Spain complex amid mounting losses

Alcoa's CEO said mounting losses at the company’s Spain production complex leave few options other than to shutter the operation.

William Oplinger said in a call with analysts Wednesday the San Ciprian complex, which is running at 50% capacity for alumina production and has a fully curtailed aluminum smelter, is incurring substantial losses. He said it does not make economic sense for the company, the largest US aluminum producer, to follow through on a phased restart of the aluminum plant this year as it had previously agreed to.