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<span style="font-weight: bold"><span style="color: #CC0000"><span style="font-size: 17pt">ALPART to shut down</span></span></span>
Posted: 2009-03-18 16:31:31
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<span style="font-weight: bold">Nine hundred people are to lose their jobs </span>in another month and a half as Jamaica’s largest alumina producer has announced that it’s shutting down.
The St Elizabeth-based Alumina Partners of Jamaica, ALPART, has announced that it will be <span style="font-weight: bold">suspending operations for at least a year</span> starting on May 15.
The shut down will result in the largest number of redundancies from one company in Jamaica since the global economic crunch started last year.
The company says the action has become necessary given the continuing severe decline in the global aluminium industry.
<span style="font-weight: bold">ALPART says its alumina product has experienced a drastic 60 per cent price drop since July 2008</span>.
It says <span style="font-weight: bold">the temporary shutdown will allow the plant to be prepared for future developments </span>that may see the industry emerge from the present situation.
In the meantime, ALPART’s Managing Director <span style="font-weight: bold">Albert Fabrini says he regrets the loss of jobs</span>. He says he fully understands the concerns of employees, communities and the country at this difficult time.
Mr Fabrini has sought to assure that ALPART will meet its obligations to employees and communities in a timely manner.
ALPART is a bauxite mining and alumina processing company operating in Jamaica under license granted by the Government of Jamaica.
It is indirectly owned 65 per cent by UC RUSAL of Russia and 35 per cent by HYDRO ALUMINIUM of Norway.
Another Alumina Company Windalco is to suspend operations as of April 1.
Source: Gleaner/Power 106 News | Print Version | More News
<span style="font-style: italic"><span style="font-weight: bold">wonder how much Mr Fabrini Golden Parachute is ???</span> </span>
<span style="font-weight: bold"><span style="color: #CC0000"><span style="font-size: 17pt">ALPART to shut down</span></span></span>
Posted: 2009-03-18 16:31:31
Live Regular updates on Power 106
»» Weather Information
»» More News/Updates
<span style="font-weight: bold">Nine hundred people are to lose their jobs </span>in another month and a half as Jamaica’s largest alumina producer has announced that it’s shutting down.
The St Elizabeth-based Alumina Partners of Jamaica, ALPART, has announced that it will be <span style="font-weight: bold">suspending operations for at least a year</span> starting on May 15.
The shut down will result in the largest number of redundancies from one company in Jamaica since the global economic crunch started last year.
The company says the action has become necessary given the continuing severe decline in the global aluminium industry.
<span style="font-weight: bold">ALPART says its alumina product has experienced a drastic 60 per cent price drop since July 2008</span>.
It says <span style="font-weight: bold">the temporary shutdown will allow the plant to be prepared for future developments </span>that may see the industry emerge from the present situation.
In the meantime, ALPART’s Managing Director <span style="font-weight: bold">Albert Fabrini says he regrets the loss of jobs</span>. He says he fully understands the concerns of employees, communities and the country at this difficult time.
Mr Fabrini has sought to assure that ALPART will meet its obligations to employees and communities in a timely manner.
ALPART is a bauxite mining and alumina processing company operating in Jamaica under license granted by the Government of Jamaica.
It is indirectly owned 65 per cent by UC RUSAL of Russia and 35 per cent by HYDRO ALUMINIUM of Norway.
Another Alumina Company Windalco is to suspend operations as of April 1.
Source: Gleaner/Power 106 News | Print Version | More News
<span style="font-style: italic"><span style="font-weight: bold">wonder how much Mr Fabrini Golden Parachute is ???</span> </span>
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