Alcoa has announced that it will shut its Point Henry aluminium smelter, costing 950 jobs.
The announcement is the latest in a series of job losses in the manufacturing sector, following on from decisions by Toyota and Holden to pull out of their manufacturing operations in Australia.
In a statement released on Tuesday morning, Alcoa also announced the closure of two rolling mills – one adjacent to the Port Hentry smelter in Geelong and the second in Yennora, NSW.
The smelter will close in August, and the rolling mills by the end of the year.
“We recognise how deeply this decision impacts employees at the affected facilities and are committed to supporting them through this transition,” chief executive officer Klaus Kleinfeld said.
“Despite the hard more of the local teams, these assets are no longer competitive and are not financially sustainable today or into the future.”
