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Alcoa, New York reach deal to prevent Massena aluminum smelter closure

REUTERS 10:38 AM ET 11/24/2015

Symbol Last Price Change
AA 9.07 0 (0%)
QUOTES AS OF 11:11:01 AM ET 11/24/2015

NEW YORK, Nov 24 (Reuters) - Alcoa Inc(AA) and New York state reached a deal to keep the Massena West, New York aluminum smelter, which had previously been slated for curtailment, open for 3-1/2 years, the company announced on Tuesday.

The state's power authority will provide $30 million in power assistance, and New York'sEconomic Development Commission will provide $38.8 million in capital and operating expenses to modernize the plant, Governor Andrew Cuomo said at a news conference at the plant. (Reporting By Luc Cohen; Editing by Chizu Nomiyama)

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