Alcoa Delays Quebec Smelter Construction and 2 Other Dow Movers to Watch
Alcoa (NYSE:AA): Current price $8.72
Alcoa said that it will push back the construction of a potline at its Baie-Comeau smelter in Quebec, as part of a revised modernization timetable. It will begin readying for the upgrade through the investment of $100 million during the next three years, as well as permanently shutting the plant’s two Soderberg potlines. Thus, the new potline that was initially set to become operational by 2016, is now expected to be online by 2019. The $100-million investment for the smelter includes $30 million to upgrade the facility’s casthouse in support of the growing automotive market.