International Edition


April 26, 2017

Breaking News, World News and Taiwan News.
About Us
Contact Us

Alcoa begins shutting factory in Sardinia eyed by Glencore

ROME -- Aluminum maker Alcoa Inc. began shutting down its factory on the Italian island of Sardinia on Saturday, laying off hundreds of workers in a region already hard-hit by unemployment and economic crisis.

Alcoa said "the economic situation and the burdens imposed by the European regulatory system" forced the decision, and the process of shutting down the smelter and foundry would be complete within a few weeks.

On Friday, Italy's industry ministry said Swiss multinational Glencore was weighing a purchase of the loss-making plant and would give its assessment within a week, leaving open the possibility of a last-minute rescue.

Alcoa said it would maintain the facility so that it could be restarted for a period of one year, with employees retained until the end of December 2012.

Colorful protests by workers brought the factory's possible closure into political focus this week, as Mario Monti's technocrat government struggles to bring in reforms and cut the debt burden that has made Italy a focal point of the eurozone crisis.

Write a Comment
CAPTCHA Code Image
Type in image code
Change the code
 Receive our promos
 Respond to this email
Subscribe  |   Advertise  |   RSS Feed  |   About Us  |   Career  |   Contact Us
Sitemap  |   Top Stories  |   Taiwan  |   China  |   Business  |   Asia  |   World  |   Sports  |   Life  |   Arts & Leisure  |   Health  |   Editorial  |   Commentary
Travel  |   Movies  |   TV Listings  |   Classifieds  |   Bookstore  |   Getting Around  |   Weather  |   Guide Post  |   Student Post  |   Terms of Use  |   Sitemap
  chinapost search