Alcoa idles Spanish aluminum smelter after floods casue damage

Floods force Alcoa to idle Spanish smelter

PITTSBURGH — Alcoa Inc. said Monday that it has idled an aluminum smelter in Spain after severe flooding caused some damage.

The smelter, in Aviles, Spain, was impacted by heavy flooding in the region late last week. Alcoa said that plant workers were able to minimize damage, but that some water entered the plant and a substation, requiring cleanup work and repair.

Alcoa said the plant, which employs 500 people and has a capacity of 93,000 metric tons of aluminum per year, will remain idled during the cleanup and damage assessment.

The company has notified customers that force majeure provisions of their contracts have gone into effect. Force majeure is a contract provision that frees parties from liability when an extraordinary event, such as a natural disaster, occurs that could significantly disrupt business.

Alcoa shares rose 4 cents to $11.40 in afternoon trading.