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To: craig crawford who wrote (332)	6/25/2001 2:52:51 PM
From: craig crawford	Read Replies (1) \| Respond to of 1643

Friday June 22, 11:02 am Eastern Time Press Release Alcoa Shuts Down Northwest Alloys Magnesium Smelter biz.yahoo.com PITTSBURGH--(BUSINESS WIRE)--June 22, 2001--Alcoa Inc. today announced that it will shut down Northwest Alloys, its magnesium smelter in Addy, Washington, as of October 1, 2001 due to high production costs and unfavorable market conditions. Northwest Alloys' planned operating rate in 2001 has been 30,000 metric tons per year (mtpy); total capacity is 45,000 mtpy. The plant employs 325 people. Approximately 300 workers will be laid off between October 1 and December 31, 2001. .................................................................................................................................................................... Friday June 22, 1:10 pm Eastern Time Alcoa to close Washington magnesium smelter biz.yahoo.com NEW YORK, June 22 (Reuters) - Alcoa Inc. (NYSE:AA - news), the world's largest producer of aluminum, said on Friday it will close its Washington magnesium smelter due to high production costs and poor market conditions and lay off about 300 out of 325 workers employed there. Northwest Alloys, located in Addy, Washington, has operated at two-thirds capacity in 2001, processing 30,000 metric tonnes per year (mtpy) of magnesium, which is used in metal-manufacturing processes. ``It's basically a make-or-buy decision. Magnesium is even more energy intensive to smelt than aluminum,'' said Lloyd O'Carroll, analyst with BB&T Capital Markets. High electricity prices in the Northwest means that magnesium can be bought more cheaply than it can be produced there, he said, especially since Norsk-Hydro has had a significant magnesium smelting capacity in Canada for the past five years. Over the past few months, Alcoa has idled aluminum smelting capacity in the Northwest and returned electricity back to the local public utility. Alcoa said it will lay off about 300 workers between October 1 and December 31, 2001. It said it will cover its North American requirements through contracts with a number of worldwide suppliers.