Alcoa affirms that “as of today” there are no alternatives to the ERE and that the possibilities of sale go through stopping the vats

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Alcoa affirms that







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This is stated in a letter sent to the workers’ representatives, in which it indicates that Alcoa “wishes to explore any alternatives or proposals” that arise, “now, in a scenario in which the aluminum plant loses 1,200,000 euros a week, the alternative cannot be the only one that has been proposed so far by the representative committee of workers, consisting of waiting until there is a competitive and guaranteed energy framework. ” “We cannot rely on hypotheses that do not exist today,” he warns.

“We have been waiting for years for such a stable and competitive energy framework that never comes, the draft statute (for electro-intensive) known today is insufficient and lacks any guarantee or certainty,” he continues.

In addition, Dorado criticizes that the proposal presented by the Government at the Alcoa San Cibrao multilateral work table on June 23 “has no specificity and does not guarantee a competitive price, its application being uncertain and not assured for 2020 or years later “.

“Ultimately, in order for us to assess or analyze alternatives, it would be necessary for us to receive them and that they be concrete and realistic, something that has not yet happened to this day,” states the president of Alcoa Spain.

STOP THE TANKS

Along with this, Dorado assures that Alcoa “is willing” to discuss a sale process of the aluminum factory, but does not see “possible” that an investor “can make the aluminum plant profitable taking into account the structural factors that they press on it. ”

It also states that “a sale process of these characteristics requires time”, although it ensures that there is not the necessary one with “existing losses”. “For this reason, any sales scenario must necessarily be preceded by an orderly hibernation of the vats,” he added.

He believes that “hardly a potential buyer will be willing to pay to acquire a plant that produces such a level of losses.” Consequently, he advocates stopping the vats so that there are more possibilities.

And it is that Álvaro Dorado estimates that the cost of resuming the tanks “would be in a range of between 30 and 40 million dollars”, “notably less than the losses that, today, the aluminum plant generates in a year ”

Finally, the President of Alcoa Spain summons the workers to meet with the workers next week within the framework of the formal ERE consultation process, which ends on July 24. The workers have demanded that this period be extended for another month, while the company has said that its extension will depend on identifying “progress” with the workers.

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