secwatch.observer — SEC 8-K summary
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Issuer:     Alcoa Corp (AA)
CIK:        0001675149
Form:       8-K
Filed at:   2023-03-16T23:59:59+00:00
Accession:  0001157523-23-000452
Event type: other_material
Sentiment:  negative
Materiality: 0.70
Item codes: 2.05, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Alcoa permanently closes Intalco smelter; records $120M restructuring charge
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- Permanent closure of 279K mtpy Intalco smelter (idle since 2020); charges of ~$120M pre/after-tax ($0.67/share).
- Cash outlays of ~$85M over three years, ~$25M in 2023 for decommissioning and demolition.
- AltaGas acquires rights to develop ~1,600 acres at the site, including transportation and utility infrastructure.
- 19 employees currently at the smelter; some will remain to assist with closure and redevelopment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1675149/000115752323000452/0001157523-23-000452-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1675149/000115752323000452/a53363088.htm
  HTML page:      https://secwatch.observer/filing/0001157523-23-000452

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