Norsk Hydro has announced plans to close its Kurri Kurri smelting operation, as a result of weak earnings and an uncertain outlook for the future of the business.
Norsk said yesterday it was in “consultation” with the plant’s 344-strong workforce to deliver the bad news.
According to Hydro's Primary Metal business area executive president, Hilde Merete Aasheim, the profitability of the Kurri Kurri plant – new Newcastle – has suffered as a result of low metal prices, weak economic conditions, and the strong Australian dollar.
Norsk’s management team have reportedly performed a “thorough review” of the business, deeming it unprofitable in the short term, and likely unprofitable in the longer-term due to increasing energy costs and the impending carbon tax.
what did anyone expect,we all sat on our arse and let it happen.A minority Government is a dictatorship.
ReplyDeleteAin't that the truth? Now we can only hope that JuLIAR & Co won't inflict too much more damage on this country before we throw them out for a generation, hopefully forever.
ReplyDelete