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News

Alcoa to build new anode plant to serve Fjardaal in Iceland and Mosjoen in Norway

Alcoa : 16 November, 2004  (Company News)
Alcoa today announced it will invest approximately $284 million of the $314 million to build a new anode plant in Mosjoen, Norway.
Alcoa today announced it will invest approximately $284 million of the $314 million to build a new anode plant in Mosjoen, Norway.

The facility, which will be built together with Elkem ASA, will produce anodes for Alcoa's Fjardaal smelter in Iceland and the Mosjoen smelter in Norway, which is 50% held by Alcoa and Elkem. In addition, Alcoa owns 46% of the outstanding shares of Elkem.

Construction of the anode plant is expected to be completed by 2007, in time to supply anodes for Alcoa Fjardaal, which will come on-line in 2007. Construction is contingent on government approvals. Upon completion, it is anticipated that the new anode facility will generate approximately 80 new permanent jobs in Mosjoen, not including local construction jobs.

Anodes used in Mosjoen were previously purchased, but an analysis of the process showed significant financial benefits to self-production. Anodes are the electrodes towards which current flows during the smelting process of making aluminium. The new facility is being built to meet the demand for anodes. Alcoa's inert anode project, while promising, is still in the research and development stage and will not be ready for full commercial deployment in time for the Iceland smelter's start of production.

In addition to expanding its presence in Mosjoen, Alcoa also has growing operations in Lista where it produces advanced automotive castings found on numerous automobiles and light trucks worldwide, and a 50% stake in the 90 000 tonne per year Lista aluminium smelter (Elkem holds the remaining 50%).
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