Norsk confirms Kurri Kurri smelter shutdown
6th Jun 2012
JUNE 6 – Norwegian company Norsk Hydro has confirmed it will shut down its Kurri Kurri aluminium smelter in the Hunter Valley region of New South Wales, Australia, blaming global economic woes and the high $A for the decision.
The company shut down one of the three Kurri Kurri potlines in February, and says it will start the process of closing the remaining two shortly.
The shutdown, expected to take three months, will lead to about 300 redundancies.
Hilde Merete Aasheim, executive vice president of Hydro's Primary Metal business area, says the decision was reached after consultations with the workforce and unions.
The 100%-owned Kurri Kurri smelter had a total capacity of 180,000 metric tons pa, but Aasheim says the company is confident it can meet customer commitments through its global supply system.
The shutdown will cost about NOK200M for redundancies and a second quarter impairment charge of about NOK1.2B.
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