Alcoa Announces Memorandum of Understanding with San Ciprián Operations Stakeholders
21 Januar 2025 - 2:35PM
Business Wire
Company, Governments, and Partner Continue
Progress to Support Complex’s Future
Today, Alcoa Inespal SL, a subsidiary of Alcoa Corporation
(NYSE: AA, ASX: AAI) and IGNIS Equity Holdings, SL (IGNIS EQT), the
majority shareholder in the IGNIS Group along with the Spanish
National Government and the Xunta de Galicia, announced that they
have entered into a Memorandum of Understanding (MoU) to support
the continuation of San Ciprián operations.
“Today, Alcoa Inespal, IGNIS EQT, the Government of Spain and
the Government of Galicia took an important step forward together
in improving the long-term outlook for San Ciprián,” said Alcoa’s
Global Vice President Energy Álvaro Dorado Baselga. “We expect to
use the momentum created today to progress dialogue with our
remaining stakeholders, particularly the national Trade Unions, and
the local Workers Council, and reach the final elements necessary
for San Ciprián’s future.”
Alcoa has operated San Ciprián for a number of years in a
challenging economic environment, primarily due to the high cost of
energy. Following a robust sale process that did not result in a
viable bid for 100 percent of the San Ciprián operations, a
potential partnership with IGNIS EQT emerged.
The MoU outlines a process for the parties to work cooperatively
toward the common objective of improving the long-term outlook for
the San Ciprián operations. The MoU focuses on several key areas of
cooperation and issues including:
- Short-term focus on continued dialogue with San Ciprián’s
workers representatives for the stability of the operations through
prioritization of restarting the smelter over capital investments
that can be deferred to a later date.
- Streamline the authorization of renewable energy projects and
deploy policies to achieve competitive energy costs.
- Efforts to provide materially higher CO2 compensation
support.
- Support for the residue storage area (RSA) capital projects
approval.
Alcoa and IGNIS EQT continue to focus on progressing the final
conditions necessary to enter in their joint venture agreement and
working with the San Ciprián workers unions to support the
operations.
About Alcoa Corporation
Alcoa (NYSE: AA, ASX: AAI) is a global industry leader in
bauxite, alumina and aluminum products with a vision to reinvent
the aluminum industry for a sustainable future. With a values-based
approach that encompasses integrity, operating excellence, care for
people and courageous leadership, our purpose is to Turn Raw
Potential into Real Progress. Since developing the process that
made aluminum an affordable and vital part of modern life, our
talented Alcoans have developed breakthrough innovations and best
practices that have led to greater efficiency, safety,
sustainability and stronger communities wherever we operate.
Dissemination of Company Information
Alcoa intends to make future announcements regarding company
developments and financial performance through its website,
www.alcoa.com , as well as through press releases, filings
with the Securities and Exchange Commission, conference calls,
media broadcasts, and webcasts.
Cautionary Statement on Forward-Looking Statements
This press release contains statements that relate to future
events and expectations about the proposed partnership, including
but not limited to, the terms and conditions of the proposed
agreement and partnership, expected investments in the San Ciprián
operations, the positions of stakeholders, the access of the San
Ciprián operations to economically viable energy solutions, and the
long-term outlook of the San Ciprián operations and the aluminum
industry, and as such constitute forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements include those containing such
words as “aim,” “ambition,” “anticipates,” “believes,” “could,”
“develop,” “endeavors,” “estimates,” “expects,” “forecasts,”
“goal,” “intends,” “may,” “outlook,” “plans,” “potential,”
“projects,” “reach,” “seeks,” “sees,” “should,” “targets,” “will,”
“working,” “would,” or other words of similar meaning. All
statements by Alcoa that reflect expectations, assumptions or
projections about the future, other than statements of historical
fact, are forward-looking statements. Forward-looking statements
are not guarantees of future performance and are subject to known
and unknown risks, uncertainties, and changes in circumstances that
are difficult to predict. Although Alcoa believes that the
expectations reflected in any forward-looking statements are based
on reasonable assumptions, it can give no assurance that these
expectations will be attained, and it is possible that actual
results may differ materially from those indicated by these
forward-looking statements due to a variety of risks and
uncertainties. Additional information concerning factors that could
cause actual results to differ materially from those projected in
the forward-looking statements is contained in Alcoa’s filings with
the Securities and Exchange Commission. Alcoa disclaims any
obligation to update publicly any forward-looking statements,
whether in response to new information, future events or otherwise,
except as required by applicable law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20250121787048/en/
Alcoa Investor Contact: Yolande Doctor 412-992-5450
Yolande.B.Doctor@Alcoa.com
Alcoa Media Contacts:
Corporate: Courtney Boone (412)527-9792
Courtney.Boone@Alcoa.com
Spain: Raquel González Redondo (+34)611 57 31 55
Raquel.GonzalezRedondo@alcoa.com
For IGNIS Inés Aparicio Hurtado
ines.aparicio@ignis.es
Alcoa (NYSE:AA)
Historical Stock Chart
Von Jan 2025 bis Feb 2025
Alcoa (NYSE:AA)
Historical Stock Chart
Von Feb 2024 bis Feb 2025