Alcan cutbacks won't
affect Kitimat works

Production cuts announced by
Alcan Aluminum Oct. 16 won't
affect operations’ at the Kitimat
works, an Alcan spokesman said
last week.

Allan Hewitson said the cut-
backs in production of primary

aluminum will affect only Quebec -

smelters i in Canada, not the Kiti-
mat plant. —
Alcan CEO David Morton said

the cuts will result in layoffs at the

Shawnigan, Alma and Jonquiere
plants in Quebec and two opera-
tions in the United Kingdom. The
action puts about 500 employees
out of work; the company’s total
work force world-wide is 53,000
people. Alcan is scaling back its

operations in response to continu-—

ing poor prices for aluminum on
world markets. The Quebec plants
were chosen for the action because

a long-term drought has created a .

shortage of water used for supply-
ing the large amounts of hydro-
electric power required for alu-
minum smelting.

Kitimat works has no such
problem, and Hewitson added that
the operation has additional pro-
tection from the high percentage
of value-added products it turns
out.

"Metal prices are at their lowest
level since 1985, and Morton sees
no immediate change in that. “At

this time, we do not see any } 7
prospect of a rapid increase in im

world demand that would redress 7

the situation in the short term,” ‘he
said.

remains constant but there is too
much of it currently available
from smelters, causing the price to

deteriorate, On Oct. 11 Alcan J

declared consolidated net income
_of $6 million for the quarter, a dra-
matic decline from the third quar-

ter 1990 profit of $97 million. For |
the first three quarters of the year }

sales are down $600 million com-
pared to the same period of 1990
and.the average price perton of
fabricated product is down $247
compared to third quarter of 1990,

The sudden changes in govern-
ment in the Soviet Union seems
also to have had an impact on the
industry: Hewitson said the Sovi-
ets have been unloading signifi-
cant quantities of aluminum on the
world market because the country
is desperate for hard currency, an
action that has increased supply
and further driven the price down.

; The demand for aluminum .

Individuals Oo
farmers
small businesses

charitable
organizations

O
0

_ damage to, or loss of, .
structures

portionsofthe contents [J
of your home or business |

farm equipment,
harvested crops @ and
‘livestock

‘ithe cost of temporary
shelter

Terrace Review —— Wednesday, October 30, 1991 15

Your government's Provincial Emergency Program provides
assistance to victims of natural disaster. Direct financial support Is
available to help you recover from damage caused by recent flooding.

WHO CAN APPLY ? WHAT IS COVERED?
cleanup costs

HOW DOI APPLY?

O pick up guidelines
- and application
and complete as
per instructions

submit completed
applicaiton forms,
nhotfaterihan
November 30, 1997
10:

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HELWIG LTD. .
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(Phone: 638-0291)

Copies of the Disaster Financial Assistance Guidelines are available
for pickup at the Government Agent's Office In Terrace or PEP Zone
Office at 203 - 3219 Eby Street, Terrace, B.C. V8G 4R3 (Ph:638-3514).

{Province of British Columbia
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