Novelis to Close Aluminum Smelter in Aratu, Brazil

Novelis has announced that it has decided to close its’ smelter in Aratu , Brazil.

The press release is quoted as saying:

Novelis Inc. announced today that it will cease operations at its primary aluminum smelter in Aratu, Brazil, by December 31, 2010. The decision is in response to high operating costs and the lack of a competitively priced energy supply.  The plant’s small scale, outdated technology and logistical factors also impair its operating efficiency. The closure will affect approximately 300 employees

Alexandre Almeida, President of Novelis South America, says:

“We made significant efforts to improve performance at the smelter, including restructuring the workforce, installing new plant leadership and adjusting production levels .Unfortunately, we could not achieve profitability for the plant.”

Click here to access the full press release.