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. 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