Alcoa Corporation announced that it will be closing its Intalco smelter facility located in the state of Washington, which has been idle since 2020.
The facility is not competitive
According to analysis, the aluminum smelter facility was reported to be unable to remain competitive for a long time.
Restructuring costs expected to be $120 million
The restructuring costs and other expenses related to the permanent closure are expected to be approximately $120 million in the first quarter of 2023.