U.S. aluminum company Alcoa Inc. (NYSE:AA) is temporarily reducing production at its Quebec plant in Becancour, affecting about 275 workers.
The Pittsburgh-based company announced Thursday that a series of giant pots used to create the light-weight metal will close as of April 30 because of the economic crisis and falling aluminum prices.
Alcoa announced this week that it had a US$497-million loss in the first quarter as revenue fell 44 per cent from the same time last year.
The company didn't say how long it expected the pots to be down.
Alcoa said l'Aluminerie Becancour's attempts to increase the plant's productivity by cutting costs have been insufficient.
Last month, it announced plans to reduce work hours by 15 per cent.
