Item 2.05 Costs Associated with Exit or Disposal Activities.
On
The Company will record restructuring charges in the fourth quarter of 2019 of
approximately
Beginning in 2020, the closure is expected to result in annual net income
improvement of approximately
A copy of the related press release is attached hereto as Exhibit 99.1.
Forward-Looking Statements
This Current Report on Form 8-K contains statements that relate to future events
and expectations, including those relating to the permanent closure of the
refinery and associated demolition and remediation activities and the Company's
expectations regarding the timing of the closure activities and types and
estimates of associated costs and financial impact, and as such constitute
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements include those
containing such words as "anticipates," "believes," "could," "estimates,"
"expects," "forecasts," "intends," "may," "outlook," "plans," "projects,"
"seeks," "sees," "should," "targets," "will," "would," or other words of similar
meaning. All statements that reflect the Company's expectations, assumptions or
projections about the future, other than statements of historical fact, are
forward-looking statements. Forward-looking statements are not guarantees of
future performance and are subject to known and unknown risks, uncertainties,
and changes in circumstances that are difficult to predict. Although the Company
believes that the expectations reflected in any forward-looking statements are
based on reasonable assumptions, it can give no assurance that these
expectations will be attained and it is possible that actual results may differ
materially from those indicated by these forward-looking statements due to a
variety of risks and uncertainties. Additional information concerning factors
that could cause actual results to differ materially from those projected in the
forward-looking statements is contained in the Company's filings with the
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Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. Exhibit number Description 99.1 Press release ofAlcoa Corporation datedDecember 16, 2019 Cover Page Interactive Data File (embedded within the Inline XBRL 104 document)
The internet addresses in the press release attached as Exhibit 99.1 hereto are included only as inactive textual references and are not intended to be active links to the information therein. Information contained on such websites or platforms, or that can be accessed therein, do not constitute a part of this report.
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