Alcoa, Inc. (NYSE:AA) has announced that it will scale back its North American production to one plant. The company also plans to shut down its forged-products factory in Lebanon, Va., by January due to continuing weakness in automotive production. This will be the company’s fifth US plant closing since 2007.
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Alcoa, Inc. produces and manages primary aluminum, fabricated aluminum, and alumina combined. The company’s products are used in aircraft, automobiles, commercial transportation, packaging, building and construction, oil and gas, defense, and industrial applications worldwide. Platinum Equity Holdings acquired Alcoa’s wire harness and electrical distribution business in June of 2009.
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